Hard to say if this satirical or not ("Etherium") but will respond in good faith.
1. Same argument can be used in the opposite way, you can verify the counter party will act as expect, there is no need for costly litigation as backstop.
2. An engineer reviewing a contract once will not be more expensive than hiring a full time banker to review each transaction or a lawyer to pursue a legal battle.
3. Decentralization and regulation are not mutually exclusive.
Agree with 1/, disagree with 2 and i have a different point of view on th 3rd point.
A lawyer can review a contract, miss a loophole/backdoor, and then argue to the court that the backdoor was placed there in bad faith, recoup his client losses. You can't do that with code. If you load a backdored code, you can't argue "this is unfair" to a court of justice.
On the 3rd point, i think "good" crypto (and by that i mean non-obvious shitcoins) tend to centralize a lot.
