You make a valid point. The Fed's payment system will indeed be highly centralized, with the government exerting significant control over how it operates.

As you said, self-custody of cryptocurrency wallets and keys obsoletes gatekeepers and allows for individuals to maintain full control over their own finances. In the absence of decentralization, the government and other centralized entities can act as gatekeepers, limiting access to financial services and controlling the flow of money.

Bitcoin and other cryptocurrencies are a powerful tool for individuals seeking to maintain control over their own financial destinies, and it is essential that individuals remain vigilant in protecting their right to self-sovereignty.