I’ve spent a lot of time at the edge of decentralized and useful tech. You’re right that most decentralized systems don’t accomplish the goals they set out to achieve.

A few key things: decentralized means a network of at least 3 nodes where no operator controls more than 1. Anything beyond that is vanity or more censorship resistance depending on your vantage point.

What we actually want is governance with checks and balances. I would argue that the problem with the US has been the centralization of power in the executive and judicial branches, particularly the executive. A functioning parliamentary system with three branches of governance is quite effective when there is a balance of power.

Now to how emulate that in software is another quandary. I think ethereum for all of its faults is doing a decent job at decentralized governance.

I think we’re still in the very early days of decentralized finance. A lot of lessons will be learned (and relearned from the past) as we move forward.