IMHO, there are some great advantages compared to X/Twitter (I'm not sure about Threads).
1) links in your posts do not penalize your post, making it much easier to share content and link. It's absolutely refreshing to click on a link in mobile and have it open directly in your preferred web browser instead of the in-app hassle.
2) You can choose your own algorithm, without having weird stuff shoved in it
3) it's a new network and early adopters are hopping on, so it's unusually high signal of interesting people, and interesting people are much more likely to follow you because there's not as many people.
4) far far far far less spam and bots
5) people can't pay a nominal fee to jump to the top of replies, which makes discussions far higher quality and much more interesting
It's an all around better experience. It may not stay that way. Twitter was always an ever-changing beast, as all social networks are, but the big changes that have been taken on over the past few years all came at weakening the value proposition of Twitter in order to feed the ego of a lucky narcissist that does not understand the experience of others or care about creating a good product. X is now the play thing of a wanna-be oligarch, and it's afraid harder to get useful information out of it compared to even a couple years ago.
Bluesky has already become far more useful to me in finding technical material and technical collaborators in just a few days, even after years of careful curation of my X/Twitter network. I don't know if that will last, or if those outside of science/data/programming will find Bluesky useful (and I actively unfollow anybody that posts a lot of stuff outside that area so I won't know!), but for the HN crowd I think Bluesky already has the potential to be a much better and rewarding use of time invested.