It is backed by the people, US! We back it up, we say how much it worths and we decide what the price will be. There is no "thing" or a "place" that decides what the price will be or even what the features will be. Even the core developers can create segwit all they want but if the people do not use the chain with segwit and go for the old one, segwit would have died. Basically the importance here is to keep our voices heard and create a decentralized democratic system of economy that would equalize us and treats us no different. Blockchain and bitcoin is backed by the resistance.