> Legally, it means that the company has other priorities that it must consider equally to creating profit.

Ok, so it's even more vague than how I understood it. This could mean anything.

Venture capital does not care about profits, they just care about selling their share at a considerably higher price than they bought it within ~ 7 years. In reality, most of the time, this happens through an acquisition. Many times this happens without the acquired company making a single cent of profit.

So how does it matter that Bluesky Social is a PBC in this context? It is still owned and controlled by shareholders, many of them venture capitalists. It can still be sold at an uncapped profit to the share holders.