Let's ask the more important questions, will this allow centralized control of information access and make deplatforming easier? Will creators and consumers in every part of the world have equal access to the monetization system?
How would it?! Did you even read the article? If anything, on the contrary, it would allow decentralisation of content because it could make running your own blog somewhere financially viable compared to having to rely on Reddit or Medium.
Because you still need to depend on the monetisation providers and they are subject to the same KYC laws. If it gains traction then PayPal will magically come up with their own monetisation provider and eat the rest. Meet the new boss, same as the old boss.