Not 100% safe. Two issues I am aware of are the scheme for controlling user identity (if you setup something standalone and want to interoperate) and the future

Not 100% safe. Two issues I am aware of are the scheme for controlling user identity (if you setup something standalone and want to interoperate) and the future governance of the protocol. But I know about these because the team is quite upfront about them and there is intense scrutiny of all claims, especially by the activitypub community they effectively compete with for developer mindshare. Basically if bluesky does not deliver an open protocol the fallback is clear. I do expect frictions to arise if others jump in and build good stuff, especially if these compete directly with whatever monetization bluesky manages to secure. The closest recent incident would be the wordpress.com vs wp engine episode. But all these issues are a far cry from the status quo. A different page.