That's not a harsh reality at all--it's been understood from the start, and it really doesn't matter all that much if bitcoin isn't an absolutely perfectly decentralized thing.  It's one thing to be dependent on the internet for it to work and quite another for the whole system to be controlled by a single entity, which bitcoin isn't.

So not a huge deal IMO.  Probably more of a concern in my mind would be China's dominance in the mining sphere, but I don't think that's even all that big a deal.