It’s also possible to run an annual event that makes a profit. Which might be something a social network could figure out.

The first club I belonged to as a teenager worked this way. In lieu of high membership dues there was volunteer time spent helping out at or before the event. I was surprised as an adult to learn that some events lose money or only break even.

Their largest operating income thus-far has been from selling two batches of t-shirts. Alongside some minor affiliate revenue from sending people to a domain registrar which they don't advertise anywhere prominent. (all handles are domain names, getting one that doesn't end in .bsky.social means getting one elsewhere)

They better start putting together an avant garde Blue Sky art gallery then. Real estate in NYC and SF aren't cheap.