I agree with the comment re: defraying costs, but Open source software has been able to find a way to survive and THRIVE with a not-for-profit model, so there must be a way to do it.

Decentralized and for-profit is an interesting idea, but my main concern is that a for-profit model gives the organization a reason to mine the data and monetize it, which could be done even if the hosting isn't centralized.

The reason I like the not-for-profit model is because it tends to (partially) preclude some of the shady privacy intrusion that the for-profit model could push a business towards.