Im not sure that characterization is correct... I am one of the oldest members of the fediverse, as is QOTO, both of us have been here 5 years.. its hardly that we have "just arrived"...
As for the fedi doing fine on its own... it hasnt.. it has been toxic and dividing for a long time, but until recently has been managable, recently the toxicity has went through the roof.
There is a reason the post about the UFoI on reddit has broken the all time record on that sub reddit with not just the most votes but with 90% up votes... people see the problem and its crippling.