If we're talking about the ideal world that may be true, but the real world is far from perfect. If you ask 100 people do you want to live a meaningful life, probably 99 of them will say yes. But do they? Probably 1 out of those 100 will live a meaningful life. If you ask people do you want to be told what to do, or do you want to do what you want, most of them will say they want to do what they want. But in reality most people just want to be told what to do because making decisions and being responsible for it is not an easy thing.
Coming back to Facebook feed, there's a reason why people keep using Facebook even though many people hate it. Sure it's not ideal but there will never be an ideal world. I think the reason why most "decentralization" advocates never succeed is exactly because they're being too ideal (read naive) about this.
That said I think the pendulum will swing back someday in the future surely, it just won't be by these guys. It will be from some random technology which didn't even aspire to "disrupt" the web.