The topic would have been interesting if you have discuss disadvantages for knowledge benefits.
I have some points I would disagree as explained above.
I believe most of the advantages you mentioned was the initial intention 0f DeFi but what I have observed and experience in the mainstream is different. Cryptocurrency on written on papers are exciting at the beginning but challenges encountered on launched want to make you have a rethink.

NO CENTRAL AUTHORITY: protocol are designed to be user friendly with no central authority, is that really true when you look at some project where only the team makes final decisions.
Yearn finance for example, the founder Andre Cronje's left the project due to internal problems and then investors began to loose interest.
What happen to the initial excitement that drove the price by 3600%?
Definitely, there was central authority.

SECURITY: This is not new to everyone, countless hacks and stolen funds due to bugs on smart contract

LOW COST: DeFi hasn't been friendly with low cost of transactions. When the price peaked, the fees were so huge that one need to pay more than what you are sending especially low key investors.