Maybe. There may be efficiencies in terms of fees that grow, with shorter paths when you open channels, to, say, local chamber of commerce like LSP's. Why route through ACINQ's fees and routes when your local commungiven that most of us using lightningity offers cheaper shorter routes? Hard to say what comes next, but given that most of us using Lightning these days seem to use it as little more than a toy, I fon't think we can yet see where this goes.
That said, despite being skeptical of any custody, I am somewhat bullish on the fedimint model. Trust minimized federated custody with significant privacy gains, and less expectation of user configuration.