"Voting with your feet" is a backstop not a first resort. The first resort should be democratic decision making. We should not accept instances where the users don't collectively have ultimate authority over policy and defederation decisions.
As long as each instance is a (hopefully benevolent) dictatorship, you can't really say this isn't feudalism. As long as users are in charge, you can't really say it is. That's the difference.
That was an atrocious construction but you know what I mean.
We need to start another fedi pact for democratic governance. And a complimentary user pact not to join another instance that is not a signatory.