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 I don't get how NIP-29 achieves decentralization & censorship resistance when group events are accepted and managed only by a single relay. 
 Agree, but we do have other options of chats, including public ones that Amethyst implements. NIP29 is for those that want moderation by a relay.  
 you own your data! if you don't like a relay, just migrate your groups to another! something that's not possible on traditional apps. 
 Hypothetically, let's say you have 50,000 in a group (I've seen far bigger on Telegram). All of a sudden, your relay is targeted.

1. How do you communicate to your 50k where to find your new relay?
2. How do you keep your new relay from being immediately targeted by the same actor who took down the first? 
 1) The group members are npubs. Write a note. Tag them from the new group. DM them. Whatever. Groups have a membership list event.

2) It's a server. Put it on a different machine. Protect the machine better. Protect the relay better. Have a fallback mirror.