This is a critical feature missing. Especially considering when one instance goes down, so does your account.
If announced, we should be able to easily transfer the account.
But an instance might also go down unannounced (especially now with so many hosting instances just for fun or to experiment with it).
While in such a case your posts and comments on this local instance will be gone, there needs to be a way to recover your account on another instance with all your posts and comments made on other instances still connected to your account, being editable or deletable.
Lemmy is more of a Reddit alternative, where you have the focus on communities/categories (similar to “subreddits”) to which you can subscribe to, while Mastodon is more a Twitter alternative, focusing on users to follow.
Kbin is actually slightly special. It is running on the Fediverse network, which can communicate with multiple other services. Meaning, it can show you content from all Lemmy instances (called Threads) and content from Mastodon (Microblog). You can see this thread there as well. In addition, it supports even more of the so-called “ActivityPub” services, like Pleroma or Peertube.
By using Kbin, you have access to both worlds, Lemmy and Mastodon, in addition to other services.