Another is that it lacked (and still does, from what I can see) a killer app. It had the perfect conditions last year with the Twitter acquisition, but to my knowledge didn't seize upon it. (Likewise, Cloudflare had a similar opportunity, but the Wildebeest project comes off as a celebration of Cloudflare's infrastructure for the sake of it and/or aimed at those who love devops stack complexity, generally—a fairly tonedeaf response to what would drive someone to want to run their own fediverse node that's not backed by Mastodon.)
The weird URLs—or rather: the constraints that led to them, and the downstream consequences to UX—didn't help.