Open? Yes.
Decentralized? Not in practice. ATproto fundamentally requires every participating node to index/process every message being sent around the network. The whole thing about AppView can be summed up as "a global indexed view of every event from every node".
ATproto delegates all the crappy parts (identity management, moderation) to those that would like to participate in the network, but all of that is pointless if your messages are not shared with the AppView servers.
This has been Bluesky's intent from day one: by letting people host their own data at their own PDS, but by ensuring that the communication is only meaningful if passing through their indexers, they are effectively aiming to be to the "Social Web" what Google became to the old www.