It's not perfect but much better than most apps used by 99% of the people.

If Matrix become too sucessful, most user will be or would like to be on the matrix.org server, which will end up no so much more decentralized, and even if there are other servers, most people will not be able to run their own, so they will be dependant of who manage their server for censorship and privacy.

Still I think that Matrix is a good replacement for public and semi-public group chats, I would love that all these interesting Telegram channels move to Matrix.

What about SimpleX for private messaage? It looks much more secure, sensorship resistant, privacy friendly and decentralized. But I don't know it well yet, I have to study it more.