Here’s the thing: Mastodon already has a really good API. There’s a whole ecosystem of clients around it, to the point that many other Fediverse implementations adopted it, so that they can use the apps.
I don’t think this is a bad thing in and of itself. But, if we want projects like Mastodon to support it, the value proposition has to provide things that the Mastodon API does not.
I think a killer feature to focus on would be identity management.