Satellites are not a sustainable decentralized way of building Internet 2.0.
Unfortunately bandwidth is going to suffer and distance latency will be proportional to the number of hops; so services will be sparse and local, think async. walkie-talkie SMS for request/response communication.
You have to imagine a continental google search taking days if not weeks, and probably be expensive in some other tangible way to avoid spam.
Privacy is only a concern on the internet we have today, the main problem being the whole "free" thing; IP addresses are "free" until they run out, domain names are "free" until you sell them to the "mafia". That spam in your inbox is also "free".
How interesting that today's human money is another arbitrary thing humans have invented for their own purpose!
Also nobody has ever invented anything useful by being legal.
Those frequencies are not exclusively licensed to ISM; Even some amateur radio bands overlap with bits of the ISM spectrum.
If you're operating under your HAM license even in the ISM band and within the other requirements you're in violation and subject to penalties. Though if you've met all the other requirements you can just claim you're operating under part 15 and be all set.
That "for the purpose of obscuring the message" part of the amateur requirements is rather interesting and some people have been playing with it, though there hasn't been any official yay/nay on what that exactly means from the FCC and AFAIK it's never been tested in court.
Theoretically if you broadcast an AES key then transmit 10 minutes of data encrypted with that AES key, you haven't encrypted with the purpose of obscuring as you've published the key with the transmission. Probably doesn't do much good in practice but there is a bunch of "edge cases" that may be interesting.
[1] https://www.theguardian.com/science/2019/nov/22/not-cool-tel...