Exactly. No one serious about crypto will rely on centralized wallets for long term storage. It's evident that providers such as Coinbase, Binance, and Xapo are subject to hacks and theft. Besides that, these companies are the sole custodians of private keys giving them complete control over your hard-earned crypto funds. Remember, "not your keys, not your coins". It's best to use decentralized, non-custodial wallets for your own safety. While decentralized solutions are not a "silver bullet", they can protect your crypto funds for as long as you follow the necessary precautions to secure them. In the decentralized world, the responsibility lies in the person himself. This could lead to undesired accidental losses, or theft. If you follow the necessary guidelines to secure your crypto with a decentralized wallet, the chances of this happening are very slim. Those who don't want to take responsibilities, will go towards the easy route which are centralized wallets. I guess that's why most people have chosen centralized wallets over decentralized ones.

Nonetheless, we cannot force everyone to use decentralized wallets as not everyone is knowledgeable about crypto. For newcomers, centralized wallets prove to be an easier way to get access to crypto. If you decide to go this route, it's best that you never store large amounts of crypto on a centralized wallet. Otherwise, you'll lose all of your hard-earned crypto in an instant. Just my opinion