It is as decentralized as you can get. Dns is the entire foundation of decentralization, any more and you get into schizo hyperprivacy protocols.
The network is decentralized, but each domain still has a single registrar, making the service you (domain owner) receive very centralized. If that one registrar misbehaves or is unresponsive, you're out of luck.
So, it's not as decentralised as you can get, you just personally don't like decentralisation?
It's federated, not decentralized. For decentralized you need something like https://ens.domains/