This is Mastodon’s moment, and it has a very serious chance of succeeding. The thing that will help it (and the internet, and the concept of actual decent, social social networks) is more, smaller instances.
This is the fediverse's moment. I think the fediverse and the Web would be better served if more people learned about the wider fediverse instead of just mastodon. Just like with web browsers, we need a plurality of software. Chrome being the largest, most dominant browser isn't good for the Web and mastodon being the largest, most dominant fediverse software isn't good for the fediverse.