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I think they might have a point about the moderation issue. It's the same story on mastodon and the fediverse where there is too much to moderate and prolific ban evaders can run rampant.
For what it's worth I believe that rough edges like this are a small negative compared to the postives of being able to use social media without being under the yoke of a big tech company.
Better this than Reddit where you get banned for any and everything. I got banned from various subs for all kinds of stupid shit. I ended up getting permabanned from Reddit for saying child molesters should be executed because I was "advocating violence". On the same day I was banned for that there was a post on one of the biggest default subs saying someone should be killed for a printer software update with dozens of people saying similar shit in the comments and nothing happened to any of them.