On the technical side, this https://programming.dev thread (itself, a Lemmy instance) asks how Rust may have affected Lemmy. The ongoing discussion covers a wide variety of topics.
The #1 post right now is frome snowe@programming.dev, the owner of this instance. He took disk-measurements of the server and published them, demonstrating that Lemmy's current bottleneck seems to be RAM (proven by the change in Swapping behavior / Disk-io before-and-after he upgraded RAM).
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I do think you can see the benefits of federation in this manner. Users from many instances: https://kbin.social, https://lemmy.world, and https://beehaw.org... and more (all different Lemmy instances) have joined in the discussion and have made a high-quality thread.
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Note: I am bullish on federation / Fediverse after playing around with it this past week. I'm less bullish on Lemmy itself, which has proven to be a buggy, laggy mess. Still, there's good discussion happening on Lemmy now (albeit slower due to fewer users). Communities are springing up (and will be dying), and I'm sure instances will spin up and die too. But the idea of federation works, especially for bringing together the discussion.
I think work (and play) needs to happen on Lemmy, kbin, Mastodon, and other Fediverse instances to figure out what is the best software, and best experience for users. Its not quite ready for prime-time, but the core feature set / Minimum-viable-product demo here is extremely exciting to me.