The biggest problem is how do you prove your right to participation? Proof of work and proof of stake are both laughably inadequate. Machine learning things are being applied incorrectly imo but it'll converge eventually.
The market will produce a bunch of privacy focused “Facebook in a box” kind of products on top of such infrastructure.
Plus, most consumers here don't care about their IP status (most don't know what an IP is), they mostly care if they can stream YouTube and play Fortnite good enough on their connection.
I wish we could force (and fund) telecoms to extend their fiber network as at least in Germany and Austria it's awful, like going back in Eastern Europe but 15 years in the past.