Nothing immoral about it, more options is a good thing.
You could try to collaborate with the other project instead of seeing it as competition. I'm sure you must have seen some of the same problems as you are doing similar things, albeit in different languages.
I have two accounts I use (and two more I don't from exploring the fediverse a bit), beehaw and lemmy.world. Beehaw is nice, but doesn't have the nisch communities that are on lemmy.world, and with the current federation situation two accounts are easiest for me at least.
Btw, Liftoff for Android works really well with multiple accounts. You can merge it all in one feed and it uses the right account depending on what server the post is from.