Social media is just decentralised information flow. Populist movements are rising because people are finally seeing how absolutely exploited they are by the elites, because the elites no longer have complete centralised control over the flow of information.
Content sourcing is decentralized, sure, content distribution is not. Through curation, one can craft a narrative without even needing to pay propagandists to write copy.
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Besides breaking multiple HN rules, your comment also totally misses the point. It is decentralized with respect to governments and politicians. Which was their entire point.
Have you considered the opposite possibility?