Either way, it might be good to enable the embeds, if it's not too hard. Seems like many people are going there these days.

More about decentralization here - https://lbry.com/faq/content

It is important to make a distinction between the LBRY protocol and any applications running on top when referring to censorship and the ability to block access to certain content. The LBRY protocol is fully decentralized and censorship-resistant - it provides permissionless access to claiming of URLs and indexing metadata on the blockchain, and facilitates data transfers over a peer to peer (P2P) network which consists of our own content severs and anyone running the LBRY protocol. This means infringing content may be stored on our servers, by the uploader and by anyone else who may have downloaded it.
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LBRY Inc., makes no guarantee your content will be hosted on the network. The peer-to-peer network relies on seeders to host content. If no user continues to host data - including you, it will not continue to be available on the network.

And here - https://lbry.com/faq/lbry-basics

Why is content downloaded to my PC even when I stream?

LBRY is a decentralized peer to peer protocol, meaning there are no centralized servers or a single entity storing all the files (like YouTube). Instead, data is stored on each participant's computer locally (similar to BitTorrent). When you stream or download, LBRY will store the content in encrypted chunks called blobs files and seed it to the entire network so others can also download from you. It will also store the completed file in your downloads folder. You can configure these storage options on the Settings page.

Looks like decentralization depends upon the content being hosted by a sufficient number of "seeders", but after a couple quick searches I'm not finding anything detailed about how that's controlled or funded.

Maybe I'll download the app and take a look. I downloaded it and poked around a couple years ago, but it seems like they've made substantial progress since then.

Edited to add

More here - https://lbry.tech/spec

Files published using LBRY are stored in a distributed fashion by the clients participating in the network. Each file is split into many small pieces. Each piece is encrypted and announced to the network. The pieces may also be uploaded to other hosts on the network that specialize in rehosting content.

The purpose of this process is to enable file storage and access without relying on centralized infrastructure, and to create a marketplace for data that allows hosts to be paid for their services. The design is strongly influenced by the BitTorrent protocol.

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Reflectors and Data Markets
In order for a client to download content, there must be hosts online that have the content the client wants, when the client wants it. To incentivize the continued hosting of data, the blob exchange protocol supports data upload and payment for data. Reflectors are hosts that accept data uploads. They rehost (reflect) the uploaded data and charge for downloads.
Using a reflector is optional, but most publishers will probably choose to use them. Doing so obviates the need for the publisher’s server to be online and connectable, which can be especially useful for mobile clients or those behind a firewall.