Similar to Mastodon's spikes last year, it seems. Anyways, there is data to think about. Source
this post was submitted on 06 Aug 2023
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Also in my case I made several alts in the beginning (because I couldn't decide on an instance and I like to have backups for when an instance is down).
Other users probably did the same, which results in a bunch of inactive accounts.
I have accounts on 5 different instances.
I pretty much only use two of them. A third one sees occasional use when sh.itjust.works is having problems, but that's about it.