I see your point, but I don't think this would qualify as decentralized. It went from 1 to maybe 8 players depending on where you are, but they are separated and closed. Each one of them is centralized, it's just that there are several competing ones. Each one is taking away their shows or making some third party ones exclusive, so the more there are, the less vale each provides.

And of course the issue is that each one has to be paid separately, so there's a economic incentive to participate in as few as you can.

With Lemmy for instance, you might want want an instance that's very connected with others, one that's quite closed and focussed or even create several users or even spin your own instance to have it your way.