Now let's compare crypto "decentralized" social networks with the Fediverse.
Which central entity controls the Fediverse?
Nobody.
Sure, the @w3c validates a spec, but that's nothing more than a recommendation of a standard.
Yeah, @Gargron runs the Mastodon non-profit, but that's just one very popular app.
Further, you neither have to use ActivityPub nor Mastodon to participate on the Fediverse.
No central authority governs the Fediverse.
Is the Fediverse's version of decentralization without its problems?
Nope! And we recently saw some real flaws with the announced shutdown of mastodon.lol, with tens of thousands of people needing to migrate their accounts elsewhere.
Some people argue that identity should be independent from the instances that host their accounts. I agree.
But people are already working on that problem, and I have no doubt that nomadic identity will eventually happen for most people on the Fediverse.