Everyone is just chasing the next big hit but I don't think decentralization vs centralization is the problem because most of the projects are meant to operate independently and decentralised after their development is complete.
I think the real problem is that even the worst of projects seem to get funded and people are very creative in listing their past accomplishments, its the equivalent of padding up a CV to extreme levels.
What I predict will happen is that the good projects will find some success while the shitty ones will eventually die out either during a crash or slowly over time.
At least in theory, when development is complete, decentralisation should commence. However, especially since the technology is new (which is both true and used as an excuse), it will take a long time for development to "finish", and in fact, if the devs/community are in any way competent, development will never truly finish. If we simply assume that decentralisation is an inevitable result of development finishing, and patiently wait for it to land at out feet, we're in for a nasty surprise.