In my limited understanding, yes, it’s possible. But it would require significant international effort to get the super rich, the ones that can pay fabulous amounts of money to money launderers legal tax experts that know just the right loophole to ensure that mr. billionaire will pay only 500k in taxes rather than 10 million, because tax havens only exist thanks to certain countries’ very lax rules on banking.
Bluesky has brand recognition (founded by the same dude as Twitter), more people and “feels like twitter”, in the sense of what you see, more than mastodon. Also, news outlets seem to be migrating there.
Mastodon (and pleroma, misskey, etc) is seen as a place for weirdos and techies, with “nothing interesting going on”. Several people mentioned this already one way or another, but that most servers/instances are “specific” about whatever means that people will feel that they might miss out on something by choosing the wrong server.