Even with an intermediary, you still have to trust them with your credentials and it's not foolproof.

MT Gox was the biggest exchange in the world when it was hacked in 2014 and billions in bitcoin was stolen, it's account holders were totally left to dry. The freedom of choice is nonsense in an immutable, decentralized system where stuff like this can happen. If someone gets your private key from you directly or through a hosted exchange, that's it.