The distributed network exists because we collectively agree to host the nodes, and because we put trust in that network, and in its supply chain (application, OS, hardware, electricity, clay, etc). Ownership is built on that trust - exactly the same as your ownership of a domain name is built on the trust in the registrar, ICANN, root name servers, and so on.
Suppose a hypothetical scenario, where a malicious actor sneaks in a bug into the node's code, that causes the requests signed by your key to be rejected, and the code gets deployed to the majority of the network. Your key/token becomes effectively worthless.
Suppose a (much less hypothetical) scenario, where a state decides to outlaw the technology, which puts node operators/users at a legal risk, disincentivizing the use of the network locally, and diminishing its value globally. You still "own" the token, but it's that much less useful.
There are different considerations, trade-offs, threat models, failure modes, horror stories, but nothing about ownership in a decentralised network is _fundamentally_ different - it's still built on trust.
