I think the factor which will determine which networks survive is the ability to handle bots driven by modern AI agents. I’m not sure how even the best moderation features can detect and mitigate these.

AI doesn't matter. Moderation should apply to humans and AIs equally.

It’s gonna be incredibly interesting to see what happens concerning this. I suspect that bots will probably thrive in feeds where ‘the algorithm’ is responsible for recommending most content. However, bots probably won’t do as well with vanilla follower feeds.