I have about 10friends there, including two who I first met on there and then I.R.L., and a few more I know very well online (also one woman who I asked out, who gave me the most drawn-out rejection of all time :/). None of them seem to be moving from there, even though most of us have bsky accounts.
Besides them, the algorithm works fine for me. If I do see a toxic post on there, it's either reposted by somebody else to highlight toxicity, or something I found in the replies to a high-engagement post. I can imagine it is a Nazi dump but my feed is mostly clear of that - youtube recommendations are much worse in that respect. And I do get some news, both from India, and from Gaza, that bluesky simply doesn't have.
e - I used to open bsky about once a week and every single time there seemed to be very long, serious, joke-free debates about whom to block, chains of blocks, how many blocks someone did (as an accomplishment). Just strange vibes.