Its really hard for me to define when we're over-complicating the premise that made Archive.org flourish, but I would love to distribute the data to alleviate the dangers of centralization in general.
I believe something like ipfs, a strong search engine, coupled with the activism that brought traffic to archive.org initially would be wonderful:
A distributed file system would build robustness into the system and keep the data from getting deleted, but only at appropriate scale. Even assuming enough scale, how do you ensure ongoing operation of the data collection aspects of archive.org, or the development of the distribution tools like the wayback machine. I’ve also seen enough distributed files systems come and go to have concerns about data rot.
As important as a distributed technological solution is setting up legal entities and ownership structures to ensure the archiving activities continue even if one of the entities does something risky.