Of course, these platforms have only federated a handful of accounts, so the "chaos" right now is in the reaction and discourse. However, I don't think it's unjustified.

I've outlined my main issues with Threads federation here, and while I'm not as sold on preemptive defederation as I was when I made the post, I still find it reasonable to be concerned about about for-profit companies controlling a vast majority of the content, especially when (A) the users making that content may be unaware that they're on the fediverse to begin with and (B) companies like Meta have a terrible track record and would have incentive to grab a ton of users by defederating if they're able (though with so many other parties joining in, whether they'll be able to pull something off like that is becoming more questionable, hence me being less sure of the need to defederate).