@jztusk @KerryMitchell @rufustheduck The live feed can be shut off by the server owner but it is usually a default option left on. I'm unsure if servers allow those without a local account to view their public feed as I have never tried.
On my server's web interface it is under 'Live feeds' on the right-hand side and, as you noted, the usual URL is servername/public/local/
Note that there is also public/remote/ (posts that come from other servers) and just plain public/ for both local and remote posts.
Remote posts are -not- all posts from other servers though! It is only the posts someone on the server have subscribed to or been mentioned in and receive. So, for example, if someone on your server followed me then my public posts would show in your servers remote feeds (and it must be a public post, quiet public like this post do not hit the full public feeds).