Edit: obligatory explanation (thanks mods for squaring me away)…
What you see via the UI isn’t “all that exists”. Unlike Reddit, where everything is a black box, there are a lot more eyeballs who can see “under the hood”. Any instance admin, proper or rogue, gets a ton of information that users won’t normally see. The attached example demonstrates that while users will only see upvote/downvote tallies, admins can see who actually performed those actions.
Edit: To clarify, not just YOUR instance admin gets this info. This is ANY instance admin across the Fediverse.
You do see how it could have a chilling effect on engagement if the “someone” judging you negatively for your vote is, say, a repressive government, right? And what’s the point of a social network without engagement?
Exactly.
“I see you up votes posts about my election rival… see you soon!”
“Dear child, I see you up voted LGBT content. Let’s talk about your sins, then try some electroshock”