What we really need would be a federated code hosting platform.
You mean, something like a git server? Lol.

Naked git is already that.
TBH, I was quite surprised that MS bought GitHub, I totally did not see that coming.
Yes, GitHub was never acceptable, main reason being all the proprietary JavaScript which just adds bloat anyway. It's a sad irony that THE biggest hoster of free and open source software, was not . And the majority of people just accepted it at given. And almost nobody really spoke out against GitHub. This was a mistake. Maybe a campaign should have been started, like “#FreeGitHub” with an argument somewhere along the sides of “GitHub is hosting a lot of free and open source software, so it just seems fair it's released as free software as well”.

Well, now it's obviously too late for that.

Maybe the fact that MS bought GitHub is actually good, because people now start to run away.

Anyway, I generally do not like the general idea of those hugely complicated web services which try to implement everything and the kitchen sink. I am a huge fan of the KISS (Keep It Simple and Stupid) philosophy and I am generally sceptical of websites dominated with JavaScript (even if it's free software).
Anyway, I have never opened any code repository on GitHub in the first place. I used repo.or.cz for almost everything because it's just git, nothing else, no bullshit. But I did open a bugtracker out of laziness. Shame on me. It's now read-only, currently looking for alternatives.
GitLab is frequently cited as drop-in-replacement. I thought that too, they currently receive a C grade by the GNU criteria. But this is outdated. You have to get past a reCAPTCHA to register. That would drop them to F, very sad.