I think P2P ends up being closer to the goal of distributed control because it doesn't tend towards centralisation over time. My issue with P2P though is that it still requires trackers for boostraping in most cases. DHT only gets you so far.
I think there will be some interesting advances once IPv6 becomes more widely deployed. Hopefully this time around multicast is widely deployed on the internet. Imagine being able to subscribe to a multicast group and instantly receive DHT nodes over the internet without a tracker? Not sure how this would work in practice, but I have heard of some research being done here. I think the future looks very good for P2P applications, whereas federated applications are still on shaky ground.