I think you don't necessarily even need that if you have a better way to support discovery and interaction with content from other places.
with social platforms, you do just that. you want to see a centralized list of available users to choose to follow or subscribe or join cult or whatever.
i'm deliberately using centralized here as not needing to know that multiple servers exist with different users in each. maybe i'm showing my ignorance of mastodon, but it seems like mastodon.com or whatever central website could just publish a list that mastodon clients can refer to rather than making users discovery a hunt and fetch kind of process. like a torrent index site. if that already exists, then i'll TIL the workings of mastodon. if it doesn't exists, then it seems very short sited.