The Académie is not the main reference for orthography (and its dictionary is incomplete) or for the general rules of the French language, its goal is to steer the language towards consistency, and recognize whatever new usage emerges.
Spanish might have such an institution, but it evidently does not work - Mexican Spanish != Spanish Spanish != .... Note that I did not say it does not exist, I said there is no "powerful centralized" instance deciding this. I stand to this judgement, also for Spanish.
The extent of the actual influence wielded by the academie francaise seems to me pretty unique.
And just like Spanish, French is governed by different entities in different countries. The French and Québec councils are the most influent ones - and France French and Québec French are also the most divergent versions.
The French language is only "powerfully centralized" within each French-speaking country. And even then, only among a few countries.
I would say it is actually less centralized than the German language, which has a single institution that oversees orthography in ALL the German-speaking world. The French language has nothing like that.
[1] https://de.wikipedia.org/wiki/Rat_f%C3%BCr_deutsche_Rechtsch...
I believe French has this problem as well. I don't speak the language but I don't think the Quebecois and "mainland" French agree on the language or care for each others' variants.
Among this list, only English doesn't have an institution.
All three other languages (Spanish, German and Chinese) have multiple institutions, basically one per country that speaks the language, just like French.