- Japanese distributors wouldn't need middle-men for airing their shows abroad. They'd just stop region gate it and let fans inject the translation through their players. That could be the toughest pill to swallow for Japanese production houses, many are just allergic to opening up, but that would be so great.
They could still license in specific countries (US?) or specific purposes (theatrical release, BD etc) provided it isn't exclusive.
- good translators would have a shot at asking for more money. Fans who don't give a damn could still get freeish half auto translated stuff, while the deeper fandom could support their people.
- "long tail" countries could get their translations as well. There's just no way CR ever does Zimbabwe subs, but a few hundreds of fans could pay some guy to make it for them against a canonical video file bought from the content owner. win-win.