If you've been following crypto currencies' history, you'll be aware that weakly decentralized (read: centralized) attempts always fall prey to decentralized protocols. The underlying principle is that a process controlled by nobody is more anti-fragile than one directly controlled by a few. Control is a liability.

Over the long term, protocols outcompete hosted services. E.g. Automated market makers will be much longer around than any centralized exchange like e.g. Coinbase.