What’s Wrong with Bitcoin?

An exchange is not Bitcoin. It's well known in the crypto community that exchanges are the weak point in security. The fact remains that the Bitcoin blockchain itself has never been successfully hacked and no Bitcoin has ever been stolen from the chain. That's pretty good security if you ask me.

As for governance, the OP says central oversight is necessary. This is an opinion, not a fact. All other altcoins have some form of centralized governance. I would argue this a root cause of their failures, not an advantage.