When two centralized entities – developers and miners do control the coin.
Edit: Found a good analogy in a medium post. https://medium.com/tbis-weekly-bits/bitcoins-constitutional-crisis-why-i-support-the-uasf-5b0ab325d8b6
> Satoshi developed a framework (constitution) that set the rules for the initial system design and the mechanisms by which that system should scale. New popular open-source protocol upgrades would get passed once majorities of two primary groups invested in bitcoin’s development, the Core Developers (Senate) and the Application Developers (House) agreed to them. But those upgrades would still need to be recognized and enforced by the nodes in the network itself (Executive) who represented the economic majority. To keep everyone honest, miners were introduced to keep the system humming and select the correct interpretation of the consensus rules whenever there were disagreements (Judiciary).