@MattHodges I talked to a friend about this who keeps up with the legal fields.
His big note is that instance administrators won't have teams of lawyers like twitter did when it comes to subpoenas and requests from nation state actors. They're more likely to forward all content rather than deal with the possibility of local legal trouble.
I'd assume that with time that'll mean that most instances will move to countries and locales that are more robust regarding data privacy laws.