I was thinking of Bluesky when I said that, but it was true for Twitter for the use of the word rational I am talking about (keeping personal beefs out of it and at least trying to be impartial). Elon Musk has since made himself, and X, the perfect example of an instance admin on a power trip! That's a good analogy, actually. You might be on a moderation team with sensible feedback policies but the odds are very high of a new user ending up on the property, and following the rules, of a miniature Elon.
I'm curious what Bluesky is going to evolve into, truth be told, especially once it begins to federate. It's privately owned, and as X has demonstrated, there is no admin that will allow technology to get in the way of the power trips they end up having, but Fediverse at least minimizes this damage due to its "defederate-and-move-on" architecture.
Jack Dorsey has a history of letting commercial interests stay in front of his share in the universal human flaw of power tripping, which is not exactly a complement but does imply Bluesky will end up mostly like Twitter did.