Recent Twitter converts wondering wtf Home/Local/Federated feeds are about, this is my take so far:

Home — people and hashtags you follow..this is the most similar to what you're used to from Twitter, but without algorithmic influence, it's just chronological order

Local — everyone on your "instance" (server), e.g. Better Boston...this is like socializing at a house party

Federated — stuff from anyone people on your server follows...this is like doomscroll mode