I assume that 80% of the users are on one or two instances. Maybe the operators of those instances could sell it to a big publishing company, like Condé Nast or something. That way it will be easier to vertically integrate advertisement between traditional print media, online publications, and less formal online gathering places. It’s a win win at the end. The original operators get their bag, and the community keeps going while being supported by a successful business.
/s
This 🔝
Berlusconi had a similar political appeal. After he exited politics, his party went to the biggest in Italy to insignificant.
It will be really difficult for someone to pick up the Republican Party and run with the same platform as DJT. Many have tried it (e.g. de santis) but none is able to have the same success.