You seem to think Proof of Work miners can do everything they want with the chain. Assuming the network isn't 51% attacked, that's not true.
When a miner finds a block, they can put transactions in it and submit it to the other miners, in order to acquire the transaction fees and the block reward for themselves.
These transactions are signed, miners can't impersonate participants. They are also incentivized to include actual transactions instead of their own thanks to the miner fee. If they try to censor a transaction, the next miner to find a block could include the transaction in the chain anyway, so they have little incentive to withhold transactions for non-economical reasons.
They can't rewrite the history, they can only push one block on top of it.
If I understand you correctly, the "centralization" you're talking about is the whole point of a consensus protocol: to get 'decentralized' participants to agree on a single 'centralized' state.
When a miner finds a block, they can put transactions in it and submit it to the other miners, in order to acquire the transaction fees and the block reward for themselves.
These transactions are signed, miners can't impersonate participants. They are also incentivized to include actual transactions instead of their own thanks to the miner fee. If they try to censor a transaction, the next miner to find a block could include the transaction in the chain anyway, so they have little incentive to withhold transactions for non-economical reasons.
They can't rewrite the history, they can only push one block on top of it.
If I understand you correctly, the "centralization" you're talking about is the whole point of a consensus protocol: to get 'decentralized' participants to agree on a single 'centralized' state.