Hey, I never realized that USENET is a lot like something else....
The Fediverse is not a democracy.
A democracy can be loosely defined as "government of the people, by the people, for the people." However, as explained above, The Fediverse is not an organization, and only an organization can be run as a democracy. Even a democracy must be organized, for if it lacks a means of enforcing the peoples' wishes, then it may as well not exist.
Some people wish that The Fediverse were a democracy. Many people pretend that it is. Both groups are sadly deluded.
The Fediverse is not fair.
After all, who shall decide what's fair? ...Some people misunderstand their local right of "freedom of speech" to mean that they have a legal right to use others' computers to say what they wish in whatever way they wish, and the owners of said computers have no right to stop them ... Freedom of speech also means freedom not to speak; if I choose not to use my computer to aid your speech, that is my right. Freedom of the press belongs to those who own one.
The Fediverse is not a commercial network.
Many Fediverse sites are academic or government organizations; in fact, The Fediverse originated in academia. Therefore, there is a The Fediverse custom of keeping commercial traffic to a minimum. If such commercial traffic is generally considered worth carrying, then it may be grudgingly tolerated. Even so, it is usually separated somehow from non-commercial traffic.
The Fediverse is not software.
There are dozens of software packages used at various sites to transport and read The Fediverse. So no one program or package can be called "the The Fediverse software."
Software designed to support The Fediverse traffic can be (and is) used for other kinds of communication, usually without risk of mixing the two. Such private communication networks are typically kept distinct from The Fediverse.
Open instance in the spirit of netizenship. Cyberpunk leaning, tech-forward, available to the public; I provide a lot of services that no one but me really uses, just 'cause. https://drastical.net/