Justin Sun was powerless until he colluded with exchanges. Hive has no ninja-mine; the largest holder has 3%. It takes roughly 30%+ to take out the top witnesses now. I don't even think you can buy 30% of the liquid Hive in existence if you wanted to. If someone tried to attack, it would make us all very rich; if they were successful, we would be so rich that we could easily have resources to fork again, dump the token the attacker is buying and getting a free airdropped token like last time. Many Hivers doubled their net worth during the hostile takeover, selling their Steem and keeping their Hive for free. Without the ninja-mine, such an attack (with the one-month delay in voting on a gov on a newly powered-up stake) would be nearly impossible. It's an attack I actually welcome wholeheartedly.
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Indeed, Hive is one of the most decentralized blockchains in terms of HIVE ownership. And it is better protected against similar attacks thanks to the additional 30 days cooling period for witness voting.
But other attack vectors remain, which may not be as critical, but still may cause a lot of pain.
For example, an account with sufficient HP can establish censorship on Hive by downvoting posts that express certain opinions. This can be very damaging to the onboarding of new users on Hive. Sure, we can fight back using upvotes, but a protracted battle can wear out the community.
Community should be able fight this and similar attacks using a “reset button”: switching to a new token, air dropped to all the members excluding abusers. And this would not require a launch of a new blockchain. It makes attacks not just expensive, but useless.
Another major problem: increased government regulations, which may complicate convertibility of tokens. Base-layer DeFi can be offer considerable protection to projects and communities.
I really don't think censorship via downvote is even a thing. I've been at the receiving end of a whale downvotes before, just because I upvoted someone they didn't like, and I still don't agree it's censorship. Everything is still on the chain.