Depends on.
Meta Threads have other issues on top of potential EEE measures and concerns about data harvesting. Meta's moderation is a shit show on Facebook, Instagram, and so far on Threads, so federating with them will result on letting a large number of trolls into the Fediverse, that are encouraged to do their trolling for higher place in the algorithm. In addition to that, Meta can dictate policies to you, like no NSFW content, and for corporations that can mean almost anything.
If Tumblr doesn't go too extreme in any of these directions, I can accept federation with them. My main gripe with interacting with corporations is that they likely want to dictate the rules of the Fediverse.