Payment processors essentially get to dictate what is and is not allowed to be financially viable which is a very powerful form of control over culture.
In theory, but it doesn’t in practice. Most crypto transfers never make it to the blockchain, they happen entirely in SQL databases of exchanges.
Also, Tether has complete control over USDT and can block or reverse any payment or freeze any account it wants. No bank or payment processor in the world has such centralized control over the traditional financial system.
If anything, crypto is more centralized by comparison. Both in terms of payment processors as well as wealth distribution.
In practice neither exchanges or Tether have made any attempts at refusing to allow payments to legal businesses as far as I'm aware. So in practice it does.
Crypto is just speed running the 19th century and making us re learn all the reasons why we made the pre crypto regulations.
Because the CEO of one could read a false news article about your site and prohibit you from transacting with them anymore. Your existence is at the whims of a few people.