Is IOTA decentralized?

Could you please elaborate on the decentralization aspect of IOTA? I'm interested to know how its architecture compares to other cryptocurrencies in terms of centralization versus decentralization. Could you also discuss the implications of its decentralization, if any, on its scalability, security, and overall functionality? I'm trying to understand if IOTA truly embodies the principles of decentralization that are often associated with blockchain technology. Thank you for your insights.