I think there's a bunch of legit analyses here. I've noticed my BlueSky activity falling recently and I realised it is because I don't really want to argue with people, whereas my attention was thoroughly ruined on Twitter back in the day because it was bombarded with endless shit takes.
Ofc shit takes and toxicity exist and I still get drawn in, but it's nothing like the nazi and TERF cruelty on twitter and FB. Mostly I am also in a positive art bubble, so I like here and there and sometimes join in, but I'm not as outraged and debate-y. Better for me, worse for engagement. Idk