But they're not random bits. I don't want to host content from random third parties even if I don't know what it is. Especially if I don't know what it is.
I wouldn't set up an open FTP server for folks to host random encrypted blobs. Why would I do it for a P2P network?
But from law enforcement perspective you may be distributing encrypted bits of CSAM to people that have a private key for it.
From my perspective it could be videos of a government committing war crimes, 4chan archives, Twilight fanfic or system logfiles.