Out of the loop

So I thought that BlueSky was set up just like Lemmy in that it was fully decentralized into a sort of "terrorist cell" structure that wasn't focused on profits, but then found out that BlueSky has a CEO. Since this is a business, what makes BlueSky fundamentally different from Twitter or Instagram?

I feel like so long as a social media platform exists through monetization (in some form or another private companies need to make money), we are ultimately replacing one dictator with another.