Yep, crypto is more or less the same as traditional finance in this sense. A few powerful individuals already control a disproportionate amount of the crypto world.

Like the sketchy folks who run Tether and Binance at the same time.

Or Elon Musk tweets raising and lowering the value of Bitcoin by a significant amount.

Even Bitcoin itself is largely held by just a few people. It's just another tool for billionaires to get even richer.