No, no. They say it can take up to 30 days, yes.
But that’s not the correct wording. It legally needs to be done under 30 days (well, one calendar month), if you’re a EU citizen.
If they do not, I highly encourage you to contact your country’s data regulator and complain about it.
Well that’s our fault for letting information get congregated in a centralized service to be fair. Any information that is stored without redundancy on a single service should be considered already lost.
The Fediverse doesn’t fix this by the way, as far as I know. The data can be accessed from other instances, but as I understand it the data still lives on the instance. The day an instance does, poof, all the information it contains goes away.
But! It makes it easier to make information redundant, by having an instance that automatically archives information for example.
We had a problem, many people knew that we had a problem but we did nothing to fix it. We have the same issue on StackOverflow or even GitHub, by the way (although the latter is a bit mitigated by people having local copies of the repositories for example). It will come bite us in the arse one day.