It's somewhat decentralized. It's at least a lot more trustless, decentralized and permissionless than what the media came up with, which they call "fact checking" but is basically just a bunch of self-anointed ex-hacks who hired each other into a bunch of deceptively named quasi-institutions, and who aren't checked or held accountable by anything at all.

Yes, the actual software runs at a single location. But apparently it's open enough that you could in principle run it in a distributed manner. As you can even cross-check the data and compute the same results deterministically, you could theoretically even do it as a blockchain, although it's unclear why you would. But you could, if there was value in P2Ping such a thing.

In that sense, Vitalik's point does land.