My vision: a Federated model in which users self-host using something like FreedomBox (
https://www.freedomboxfoundation.org/).
The hardware is small, cheap ($20 - $200, or more if you prefer) and low-power. And the truth is: having _any_ dedicated box means you're getting more hardware allocated to your use and data than most SAAS providers provision on a per-customer basis. With modest amounts of RAM and an SSD performance will top most cloud services.
The software is self-configuring. One thing the Debian team has been working on for nearly two decades is how to take all the pain out of deploying systems, and while it's not perfect, it's really damned good. With a focus on "sane by default", there's no initial package selection.
The "Federated" bit says that your data is replicated on other nodes, either of your specific choosing or based on an arbitrary selection. That can include encryption of non-public data.
And there's a possible business model: set up self-hosted systems for individuals or businesses, or host small numbers of sites (it would take a lot of work for the feds to track down tens of thousands of providers rather than a handful of large players).
Email, webhosting, file storage, email, messaging, social networking, on an open framework.