My understanding is that it is publicly verifiable that Dai is over-collateralized , and positions can be closed or whatever it is called without requiring any organization to do anything.

I don’t know what smaller details there might be about the oracle information or other outside input things there are that people might complain about, but my impression is that it is a sound setup? The reason I say “impression” is because I’m not familiar with the details. I think all the details are publicly verifiable though.