I’m personally not convinced bluesky will ever be truly decentralised.
I suspect the reason they have delayed implementing federation for so long is to get as many users on their centralised service, and the big central server will be used to impose their choice of censorship. Even if you can theoretically run your own master server, if 99.9% of users only use bluesky’s it’s meaningless.
I do agree that defederation is the biggest issue holding the fediverse model back, however. It makes choosing a server overly complex.