Git is distributed, but
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so do many vcs created after git, eg. hg, pijul
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a platform that hosts the repos and issue trackers is different tool.
Security is the main problem here, you normally don’t visit a random host to download the software from, just like you don’t put money on a random unknown bank/stock. That’s the reason I think it is not being federated yet, bc you want to stick with the trusted instance you pick anyway even if it is federated, but then there is not much difference for the host to host the platform without fediverse.
Im not surprised by how quick it dies, base solely on the bad attitude of Spez.