Poor implementation of a decentralized exchange is different to whether the idea of a decentralized is better or worse than a centralized exchange - I'd say its better.
Not quite the same, but something like DAI/MKR where everything is done through smart contracts to create a CDP, is better than having a central entity do the equivalent work imo.
The alternative is that we keep trusting exchanges like Binance, wait 6-12 months and post the same thing again about how much money was lost this time round.
While I agree with you in part.
All hacks are because a security flaw wasn't considered or patched. Whether centralized or decentralized.
With a DEX - who will do the coding. Coding by consensus ? There are a limited number of people that understand or comprehend the code. Even the best make mistakes.
Coin networks cannot even get the security right yet. A massive number of coins have been exploited this year and a lot of them haven't even announced it publicly.
It will be a long time before a DEX will provide real benefits over a centralized exchange.(Don't get me wrong - I am pro DEX - but real DEX don't exist yet.)
I'd still prefer coding (or smart contracts) that are open source for anyone to see, rather than a centralized exchange where we don't know wtf is going on.
Does anyone know what the security is like at Binance? Not really. It is intentionally 'secret' for 'security' reasons (didn't help much).
With something like a real DEX, or smart contract set ups like MKR/DAI, anyone can review the coding/contract, and see if they are comfortable with the security from there.
Not saying that DEX is currently perfect, but hopefully over the years it will be much better than what we have now. Like you're saying I hope that a real complete DEX will exist soon.