Glad that you summarized the points OP. Merited your post.

I agree that we have been seeing a tendency towards centralization under the present dispensation. Yet, Modi Govt seems to be drowning in its own hubris. It is always going to lead to disaster trying to centralize decision making in a country like India. The lat time someone tried, it resulted in the 1975 Emergency.

Of course decentralization in products and services could be an efficient way out. Theoretically, this is a great idea. What we really need is to find use cases and build products that can showcase its feasibility. For that to happen, we are going to need people to focus on products and contributing to the crypto-economy rather than seeing it as simply an investment. We all could start on our own, especially those who still are in their student phase.