Please indulge a few shower thoughts I had:
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I wouldn’t worry about Lemmy having as many users as reddit in the short term. Success is not just a measure of userbase. A system just needs a critical mass, a minimum number of users, to be self-perpetuating. For a reddit post that has 10k comments, most normal people only read a few dozen comments anyways. You could have half the comments on that post, and frankly the quality might go up, not down. (That said, there are many communities below that minimum critical mass at the moment.)
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Lemmy is now a real alternative. When reddit imploded Lemmy wasn’t fully set up to take advantage of the exodus, so a lot of users came over to the fediverse and gave up right away. There were no phone apps, the user interface was rudimentary, and communities weren’t yet alive. Next time reddit screws up in a high profile way, and they will screw up, the fediverse will be ready.
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Lemmy has way more potential than reddit. Reddit’s leadership has always been incompetent and slow at fixing problems. The fediverse has been very responsive to user feedback in comparison.
There is a nice button on each instance that turns off new registrations. Once an instance owner has enough users and don’t want to upgrade the instance anymore, he checks that one.
It will be impossible to ddos every Lemmy instance, not very efficiently at least. Now it’s super easy to just bomb Lemmy.world.
If I’m interested in community X on instance M and M is down it is irrelevant that instances N and O are up - I still can’t access X on instance M.
I don’t know how you people browser Lemmy, but I only read subscribed feed. And most of the communities I care about are on LW. Thus it is absolutely irrelevant that other instances exist. And no, I don’t want to read the cache - I already saw old content.