I can agree with what you said to an extent. Unfortunately, this is how it is with anything that has massive success in this world. It gets regulated by governments. It may be going the wrong way currently, but I believe this can self-correct. There was a time when governments and people saying Cryptocurrencies is a scam and didn't believe in it and did not think it needed regulation. But here we are now. Most of the time, when regulations are implemented, there's usually revisions made because they don't get everything right the first time.

Yes, centralization will always happen. It's a cycle we go through in society. If we look back to the "wild west", things were getting out of hand and centralized organizations formed to regulate everything. Now we're wanting more decentralization and we will go through it until things get out of hand and form new centralized organizations for regulation. Then Repeat.