Decentralized Social Media

I apologize ahead of time if this is the wrong place to post this. I imagine a lot of people would think this would be better suited to r/cryptocurrency. The reason I won’t post this their is that the vast majority of the active users on that sub care very little about decentralization and are firmly in the “blockchain not bitcoin” camp. I think users here are much more interested in decentralization as a worthy goal, but if this strays too far from the topic of bitcoin to be here I get it. No worries.

So platforms like Minds.con are supposed to be decentralized alternatives to platforms like facebook, but I fail to understand what exactly makes them decentralized.

From what I can tell it’a just another private company using blockchain technology for some sort of end product, in this case an alternative for facebook, that pays people some tokens for doing some task.

In what way is this decentralized? Is the data still not just stored in some central database? Is the platform, and the content, not still ultimately just determined by the company? Even if you subscribe to the “decentralization is a spectrum” argument it is hard to see how this, or any other supposed decentralized social platform, is meaningfully decentralized.

Is there anyone actually trying to make a platform that is truly decentralized? Is anyone even theorizing how that could be possible?

To me one of the most important things that would make a decentralized social network would be data storage. There would be some sort of incentive system like mining in bitcoin where individuals could contribute memory in exchange for some reward. All of the data would be distributed across these different nodes so no individual could arbitrarily censor another. Of course this would limit how much data individual users could post. I imagine it would have to be text only for a long time.

Any thoughts on this? I apologize if this has been posted or discussed before ad nauseam.

TL:DR Are there any really decentralized social networks in existence or being worked on? Is it even possible?