Bluesky federates across different layers, it’s modular, it doesn’t have a comparable same-layer federation. It is fully interoperable, just not by the method you’re used to.

You can host your own partial appview now (caching and indexing your and your friends’ comment), and multiple people have managed to run their own relays for cheap (caching most of the posts in the network), and you can pull the rest of data you need to browse from the other relays and use the service as usual. You can run your own moderation labeler, use your own app, just your own account, etc…

Just look at the interoperable blacksky project by a bunch of black devs making their own infrastructure for accounts and moderation, etc.