In practice it is centralized: you can host your own PDS and knot but if tangled.org decides you don’t align with their values then they stop indexing you and n

In practice it is centralized: you can host your own PDS and knot but if tangled.org decides you don’t align with their values then they stop indexing you and no one will see your work in the only place tangled users look. ATproto has some real benefits - data sovereignty is possible - but for this particular use case it only makes it possible for you to migrate your connections and history to the next place that everyone is going to.