Personally, not in the near future. If the process to sign up gets more streamlined along with people not worrying too much about the federation part, then yeah it has a chance. I saw some reddit threads on a post that explains how federation works, and there was a lot of push back because they felt they had needed to understand everything to even use the website.
Haha, honestly I feel similarly. I only really started learning about it after I signed up because I was trying to figure out why the word "federated" was being thrown around a lot.
The signup process is a barrier at the moment that will have to be addressed. Other than that, I don't really see why it couldn't be the new, improved reddit.
I though the signup process itself was rather straight-forward, I don't necessarily understand where the confusion lies. I signed up for Lemmy like I would any other website once I learned that your account carries across instances. Maybe folk just get caught up on whether or not it's the right instance to sign up on.