The ToS part sounds good, and I was looking into something like that a while back.
As for the rest, could you share which parts of the argument is unfounded, or why it's "entirely BS"?
Not to be hostile, but this is the kind of comment I'm talking about above.
I absolutely despise Meta too, I'm trying to figure out the best way to limit their effects on the Fediverse and keep growing the good thing we have. As much as I want to do the big symbolic action, it feels performative and ineffective at best.
It's not really former Reddit users they're after but rather Twitter. Lemmy is still separated and it doesn't matter for us either way (for now)