Sorry, don't like the name. Also, when you say a reddit alternative, to me it gives the impression that the redditor culture will remain so why would I sacrifice the content rich reddit for a new platform? Federation doesn't mean much to me as a user that justs wants [social]entertainment and news (and commentary on them).
There's only one thing that can change my mind a little: if you guarantee email is not and will never be required to sign up or use a feature. Edit: if you think this is irrelevant, consider how both reddit (until recently) and HN didn't require email for signup, also the majority lurker population and importance of lurker-> user conversion. If email is your hill to die on, it will also be mine and I hope a majority of lurkers' hill to die on against you.
As a techie I support federated and decentralized systems but as a user, how the platorm is architected is irrelevant, my experience is all I care about. Also,how will it monetize? Ads? If so I will stay with reddit. Non-crypto payment? Yeah, crappy reddit is better.