No it is the opposite, this is the first paragraph in the article:
Mastodon announced Monday that it’s shifting its structure over the next six months to become wholly owned by a European nonprofit organization—“affirming the intent that Mastodon should not be owned or controlled by a single individual.”
Exactly this, they are usually young too and they know their only job is to fire ppl and/or do decisions that will make most if not all unhappy. I have only seen it once my self but a lot of friends went through that at their company.