It would be, except it doesn't allow any interaction between authors and readers, making federation almost pointless, it also lacks attachments hosting and other blog stuff.
There's also Plume, which has slightly more features, but still lacks a lot, isn't actively developed and is currently suffering from massive spam.
So, to conclude, there currently isn't any interesting federated blogging platform.
I'm feeling the same and wondering the same, did you ended up trying this, and if yes, do you have some advice on how to manage this particular use case ?
It's a nasty one because there's no "reject all" button, it requires manually unchecking all checkboxes instead.