If it's not intended to be a decentralized system in the first place, the "blockchain" aspect is useless and turns from being a clever hack that allows to generate a certain level of trust from distributed participants, thus enabling the decentralization in the first place, to a marketing ploy that, if not just being lip-service but actually implemented, is a huge resource hog and severely reduces scalability and maintainability of the system without offering any benefits whatsoever.

Because of this situation it is natural to assume that a blockchain-based system must either have a decentralization aspect to it, or that the architects of the system are incompetent. And we don't want to assume there's such gross incompetence at IBM, do we? ;-)