If it's not decentralized, it's not trustless, and not crypto. As you've correctly said, you have to trust him.
That's a very consequential statement, something larger than life. Too bad we're still trapped inside this fallen world where everything ain't black or white but shades of grey :)
BTC is no shade of grey. Think about that one for a minute!
And crypto candidates that want to survive more than a few wishful years absolutely must adhere to the same basic fundamental ethos, otherwise they'll be nothing more than just another online video game, or chat, or what have you, but they won't be cryptocurrency!
You are indeed a very thoughtful man.