A smart contract and a community does not make your project decentralised.
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but a smart contract and a community can make a project censorship-resistant (or too expensive to censor) and non-custodial
Agreed on non custodial. Censorship resistance, yes, but with its limits. Not saying you can't achieve all of that with smart contracts, but not what we see in most projects.
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I think smart contracts (and many other ways too) and a passionate community are some of the low-cost, low-barrier ways to achieve censorship-resistance and non-custodialness. let the markets and people discern good projects vs bad projects
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You still have a centralized administrator for the vast majority of smart contracts.
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