Yeah. One can go read the protocol. But the Activity Vocabulary probably gives a good idea for the versatility, the use of (core) ActivityPub[1]. ActivityPub is streams of actions, most of which we know & are familiar with already from existing social media.
I guess so. ActivityPub seems a lot more complicated than what I have in mind. With RSS itself, most developers could create a reasonable implementation in a weekend. I see no reason why couldn't have something of similar simplicity for commenting.