This whole situation is ridiculous. We need an alternative to all this centralized control, and we need it now.
I'd argue that the problem is corruption, not (the degree of) centralized control. What we need here is a governance system for TLDs that is hard for a handful of well-connected profit-motivated bad actors to corrupt.
After all, if there exist a central authority, only that one authority being corrupt messes up everything.
On the other hand, a distributed scenario makes it more difficult for a handful of well-connected profit-motivated bad actors to corrupt the entire thing.
But a distributed set-up is more complex (and more expensive), that's for sure