So you honestly think that there are not a handful of whales controlling the price? - if so how is that decentralised? - just another form of control
I do not think whales control the market but can influence it. They bank in human emotions and reactions.
A whale can not make the market go down but can spread FUD and this causes panic and makes traders sell at lower prices.
If we were less driven by emotions there control would be not be as effective.