> If true, this means that much of Ethereum’s promise to decentralize the web is in fact a lie: it may instead be controlled by a group of elites whose existence has been purposefully concealed.
> This also means that if Eth switches to proof of stake, the larger hodlers will have the power to determine consensus.
Absolutely correct and this is where the web3 hype origins were from. They are using web3 to pump their bags to get late comers buying into the Ethereum dream of 'decentralisation'. First it was the ICOs, then ERC-20 tokens, NFTs, The DAO scandal and now you have web3.
Sounds like 'decentralies' from the start. This article [0] summarises the entire problems in 'web3' and the mismatch of its proposed goals.
[0] https://blog.mollywhite.net/blockchains-are-not-what-they-sa...
