This would be competing against the existing internet though, where there are a lot of for-profit companies fuelling the content (for the consumer). If I'm a business I need to decide whether to back a scrappy startup infrastructure with no users or to go with the established internet with a vast potential customerbase. If I'm a user I need to decide between the existing internet with vast swathes of content and huge numbers of different services and this new network with better protections for my privacy but basically none of the above.

The early internet was innately disruptive and extremely different from anything that was there before. This doesn't have that advantage as far as I can see.