Is Bancor truly decentralized?

Could you elaborate on the degree of decentralization in Bancor's platform? Many have questioned whether it truly embodies the spirit of decentralization, given its reliance on smart contracts and the role of the Bancor Protocol Token (BNT) in facilitating trades. How does Bancor address these concerns and ensure that users maintain autonomy and control over their funds, while still leveraging the benefits of smart contract technology and liquidity pools?