Bridgy Fed’s Bluesky integration is now in beta, and makes it possible to connect your account from the Fediverse to Bluesky, and vice versa.
There’s still some quirks, and every bridged account has to opt in to it, but it’s a promising moment for people that want to communicate across networks.
I can’t tell whether this is serious or sarcastic 😅
As far as the “global square” part of the equation is concerned: yeah, you’re right! A firehose of public statuses requires indexing to work, as a basic foundational premise.
However, there’s nothing preventing someone from standing up a PDS, opting out of the firehose / big graph service, and instead leaning on federation between individual PDSes. I’m not saying it would necessarily be a common use-case, but it’s definitely not impossible.