You're talking to a server to buy/sell BTC instead of a true p2p.
You're not truly anonymous as Coinbase has to listen to warrants and would give up your identifying info attached to your Public key.
This isn't part of the original crypto currency philosophy. It's just stock trading with extra steps
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When one party is no longer happy with the situation, the channel is closed by submitting it to the Blockchain.
The magic is that to send someone money, you don't need a direct channel with them, it just needs to find a path of channels between you and whomever you're paying. Hence lightning.
I only understand it at the high level though, so if anyone else has corrections to my description feel free to weigh in.
They allow for an "on ramp" from fiat to crypto for those who need it.
They can reduce fees for transactions that are small relative to gas fees. There are L2 solutions or other Blockchain scaling projects that can also help with this.
It also creates a space between blockchains, when a bridge doesn't exist. For example, trading DOGE for BTC isn't supported by the chains themselves, so they rely on third parties to facilitate those trades.
There are projects in the crypto space solving cross chain functionality, but it's a work in progress.
Centralized entities provide value to a decentralized ecosystem by supporting behavior that is unsupported, difficult, or expensive to accomplish within that ecosystem.
If everyone in the world just bought crypto on Coinbase and only exchanged it exclusively on Coinbase, then yeah, I think that would undermine crypto philosophy.
However, I think it speaks to the power of crypto that you can use it entirely decentralized when needed, and you can integrate with centralized services to bridge the gaps when you need to.