Somehow, I feel like the federated network is still centralized, because there is still censorship; it's just distributed across more servers.
I mean, it definitely gives users more rights to free speech, and I'm not worried about privacy issues. However, the removal of content and the banning of accounts are things that are diminishing my passion for sharing my thoughts publicly(on reddit).
I just dont want this happened on here but I am seeing some...
That is absolutely incorrect. All of those things can and do exist but it is dependent on each instance. There isn’t a single entity controlling those things, each fediverse instance decides for themselves. One instance could collect everything you do, restrict what you post, moderate what users post and comment, and ban users as they please.
Decentralisation doesn’t mean “no rules”