Enshittification Continues: Discord to begin showing advertisements on it's free platform
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They supposedly can be disabled in settings- but we all know that won't last. They're going full Microsoft Skype mode and it's only a matter of time.
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Yeah, functionally it's much more similar to Discord. It's a shame it isn't federated.
What does being federated give it?
It means users aren't dependant on a centralized service provided by the developers themselves.
That doesn't really answer the question since anything that is self-hostable already meets your criteria even if it's not federated.
It's a communication platform. People are forced to use the same host if they want to communicate on a non-federated platform.