not really. If the account never activates on Threads then nothing happens. It’s just a convenience. If they don’t offer this feature then you have to consistently keep checking to see when your friends activate their account and go find them. It’s objectively a worse experience to do it that way
but they don’t create a public profile for users that don’t sign up? it uses the same handle as your Instagram. If you never activate Threads then nothing happens with your username on Threads