I think Hive can offer something to various sets of people. Those who get deplatformed elsewhere may be a small minority. It is doing fairly well in places where people struggle to earn much due to the local economy and that's great.
I find FB very frustrating these days and so only use it where I have to for staying in touch with certain people. Twtr has gone downhill too. I enjoy the Hive experience as I've made a lot of friends here. I know from experience how hard it can be to get others to use it.