Matrix is not decentralized, but merely federated. As far as I understand it, you still need a home server, that has access to a lot of metadata, which implies that you have to trust the network operator not to log and share all that sensitive information.
It's still an awesome alternative to say, Discord and Slack.
Matrix is working on a P2P version, there have been a few demos but it's currently still very much WIP. See also https://arewep2pyet.com/