Is community governance real for $BNB ?

BNB Chain allows staking and voting, but decision-making power is concentrated in Binance. The question is: does this 'pseudo-decentralization' undermine trust? If users cannot influence development, does the decentralization narrative of BNB hold up?

I really regret not holding onto BNB; one of the benchmarks for building a position in a bear market is BNB.