

Maybe yes, but realistically no. It’s open source, so anyone could make their own clone of it with whatever monetization methods they want. If you ran an instance, you could also charge people to post on it. That said, with the way Lemmy is organized, people would just leave the offending instance for a different one.
The main benefit I remember from jumping to Discord from IRC back in the day was the ability to easily see past messages. That said, I’m not sure if that’s a problem anymore on IRC since I haven’t used it in ages. Even then, I don’t think it would be too terribly difficult to whip up a self-hostable fediverse competitor to Discord. It would essentially be IRC++.
It’s probably more of a critical mass issue, though not near the level of Reddit vs Lemmy or Twitter vs Bluesky vs Mastodon. Every Discord server is essentially a walled garden. A Discord server doesn’t hold much advantage over a Slack server, GroupMe, Teams, or IRC. For that reason, it would be a lot easier to move individual communities over.