Yea, it would seem the embrace from those “who should maybe know better” is based on it being the appropriate compromise to make progress in this field.
BlueSky is not just another centralised platform. It’s open source (or mostly), based on an open protocol and an architecture that’s hybrid-decentralised. The “billionaire” security, AFAICT, is that we can rebuild it with our own data should it go to shit.
This thread from Andre Staltz is indicative I think: https://bsky.app/profile/staltz.com/post/3lawesmv6ik2d
He worked on scuttlebut/manyverse for a long while before moving on a year or so ago. Along with Paul Frazee, a core dev with bsky who’d previously done decentralisation, I think there’s a hunger to just make it work for people and not fail on idealistic grounds.