Are we decentralized yet?

Keep the needle pointing north. Towards the center of that dial.

Too decentralized, and you can't find anything. Nobody uses it.

Too centralized, and censorship takes over. Nobody can speak freely.

I don't disagree but I do wonder if a.) discoverability is really so intractable in a decentralized environment if you're willing to throw a lot of resources towards indexing and b.) if that middle ground isn't like balancing a pendulum upside down - a very fragile equilibrium. A bunch of decentralized units might join together, or a large centralized unit might fail, pushing the pendulum to either side.

You can think of the golden age of blogs and search as an example of both. Search engines formed a centralized hub with blogs, forums, etc. forming the spokes. For a while that worked well before it was degraded by spam and consolidation of disparate forums etc. into a handful of major platforms (fueled partly be acquisitions).