I get told a lot that Bettas shouldn't be in a community tank cos they get nipped, and all the fish I have are supposed to be 'culprits' of this but I have seen no evidence.
The glolights ignore him, The black mollies swim with him as if he were one (He is Red. lol) The Balloon outstares him then swims off, and the danios stay away from him.
The only problem fish was a dalmation molly that I rehomed for someone (along with the glolights and Danios). She picked on him, and then made the big mistake of giving a good bite to the underside of the Balloon Molly Female (Whos the boss in here), and then all the mollies turned on her (She was dead next morning)
I personally love to see the Beta swimming amongst the other fishes, such a contrast and they all seem to ignore him, whilst he doodles along flaring every now and again whilst they ignore him.
So for me community worked.
If anything his fins are getting better now (looked a bit rough when I bought him from one of the chainstores)