* There is the power for some central entity to control the levers on the money supply: determine how much money gets printed, what the interest rate is, what sort of inflation rate is acceptable etc.
* There is the oligoplic power of banks which determine who gets to have a bank account, how much and at what rate credit is available to which people, what sort of money transfers are acceptable.
* There is the political power that people with lots of money command. They determine who gets elected, which laws are passed, whether they can be prosecuted or not, whose life they can destroy on whim etc.
I think Satoshi's original conception might have been to democratize the first two kinds of power. Early cryptocurrency idealist probably dreamed of getting rid of all three types of power.
I think right now, only the first one is indeed getting democratized in the sense that people can choose to "support" the cryptocurrency which they like. This is true for both PoS and PoW.
With the rise of regulated cryptoexchanges owned by rich people, the second type of power continues to be centralized in both PoS and PoW. And of course, there was very little threat of the third type of power ever being challenged by cryptocurrency - that's a property of our political systems, not of the type of money we use.