Incorrect. You would have no problem whatsoever if you had no company and just hosted in europe.
Companies under the cloud act only have the ability to disagree if the country in question has an agreement with the us which currently only great britain has.
Of course its no different to reddit. Lemmy is supposed to work similar. The big difference here is that it is less homogenous. You can see that there are many different communities for the same topics that are even similar in numbers. The top down capitalist rule isnt the default and not the best or only one that works. Its what we all were socialized in.