It’s so big that it can take a lot of bleeding before it dies. It doesn’t help that there is no significant enough consensus yet on an alternative.
It seems like some people are flocking to bsky, probably because it has better visibility and seems more accessible than Mastodon (“What’s an instance? How do I pick?”). Others are heading to Threads just because it’s there already.
If enough people move to some other platform to generate a critical mass, they’ll pull others too. Until then, inertia will keep X rolling a good while to come.
I share your hope. I’m just offering the caveat that it might not go as quickly and smoothly as you expect (unless I’m reading your comments wrong - do correct me!)