Not a fan of their tokenomics actually. 50%+ in control of the team. That's a huge chunk. The website, however, even though it's giving a lot of Discord vibes... it's a great example of how to market a social platform. Great UI/UX.
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You are right about the team control, but they are not claiming to be decentralized.
They have a cool UI and I see that they have the option to have verified users/creators and organizations too. As I was writing in a previous post, bringing brands/organizations over here would be a perfect opportunity, as their followers would probably come over as well.
I am sure we will witness close to infinite competition of similar apps in the next few years and as the user experience will inevitably improve, traditional mediums (i.e. meta) will slowly die!