In that p2p project, all you contributed was storage and bandwidth.
Personally, when I think of a decentralized reddit, there's nothing monetary about it. Simple points equate with popularity and that's incentive enough, but it's hard to build up a large audience like reddit did. Honestly, when I started reading your article, I was expecting to read a proposal for something like Namecoin, but for a decentralized reddit. Then the monetization part took me by surprise because that would totally change the social dynamic of the site. I would feel it would be less about the content and the popularity and more about trying to make money.