I just read your article and I have to say I'm more than happy to see sourcehut moving to the EU. I'm a EU citizen myself and probably have a similar distrust in the US system for anything that involves personal data and privacy, and its values are not aligned with mine.
If sourcehut moves to the EU, it means it will be tied to laws *I* have a say in, enforced by a government *I* can protest if I disagree with. While far from perfect, it's more assurance that individual interests are valued over corporate interests and a sane competition can exist. I'm trying to change the services I use to better fit my values and I'm glad to be ticking that box for sourcehut very soon.