Is Web3 really Decentralised?

Could you please elaborate on the question, "Is Web3 really Decentralised?" I'm interested in understanding how its claimed decentralization differs from the existing models we've seen before. Could you discuss the key components that contribute to its decentralization and any potential challenges or limitations that might undermine this claim? Additionally, how does Web3's decentralization compare to other blockchain-based systems, and what are the implications of its decentralization for users, developers, and the overall ecosystem? Thank you for your insights.