I would not recommend that one to people on Reddit - I can see that it does not defederate from either hexbear.net or lemmygrad.ml as piefed.social does, see e.g. https://piefed.zip/c/news@hexbear.net and https://piefed.zip/c/worldnews@lemmygrad.ml.
Let's see... piefed.world seems to have defederated from both of them: https://piefed.world/c/acab@lemmygrad.ml does exist but it looks to have been imported once rather than something that is connected continually.
https://piefed.ca/ also has no content or communities from either of them so it too looks to have been defederated, and if you are looking to avoid the lemmy.world mods then that could be a great option, for people currently using Reddit who primarily tend to be from the USA?
Or https://feddit.online/ for anyone located in Europe. All of those are great options and I would suggest to recommend them over piefed.zip.
Of course everything is so new so we don't know so much about how well-maintained those servers are - feddit.online has a lower uptime below 95% but the others are all >99.5% so seem great so far?