Ok, it's very simple. The BTC PoW mining is an arms race. The miners are destined to be consolidated into centralized entities, essentially governments or huge corporate entities. This is just basic math, nobody else will be able to compete, and those that choose to, will be irrelevant. Just like Youtube. Economies of scale and all that. And once it gets to that level, the whole network can be, and will be, held hostage by the controlling entities. One extremely likely scenario that I have heard, is the governments essentially changing the BTC code to fit their goals. Im sure those will be wonderful goals too, supporting freedom & prosperity and all that. As for the whales, along with major CEXs, who have very significant ownership of BTC, I think it has been very clear over the years that they get a kick out of manipulating the market and regularly fleecing the masses. In fact, that seems to be their overall goal, instead of doing anything worthwhile with the technology. And they possess extreme power over BTC movements. Does it really matter? No. The market does not give a crap about decentralization, and plenty of cryptos do great with heavy centralization, because the controlling entities objectives are aligned with the success of the particular coin & ecosystem. BNB is the perfect example. More times than not, a heavy decentralized distribution of the token is bad, because the crypto masses are silly sheep who get easily spooked, distracted, panic, etc.