Very true, but keep in mind that it is still censored somewhat. The rewards and reputation are censored by the public. The content is essentially controlled by "Free Market". An author with content in which the majority public feels is distasteful will not get noticed and potentially down voted. If it is really distasteful or plagiarized, the content can be voted to the point it is hidden. The content will still however be available. A single powerful entity can still down vote content into the hidden state which is not very decentralized, but if they did that without just reason, they will fall out of favor from the public which would hurt them.