I guess depends on what you're looking for. There are a lot of shitlibs and as it mimics the functionality of twitter it will probably suffer from the same problems in the future. Currently there are few reactionaries and it experiences a wave of new users. I saw that it has some nice feature for getting users started in a specific direction, called Starter Packs. I saw one starter pack that lets you follow a load of game dev people and another one that covers some nsfw accounts that are leaving twitter. One thing positive is that it's currently not owned by Melon Husk

I think it offers the same potential for community building as twitter.