Honestly I don't think it would be that costly, but it would take a pretty long time to put together. I have a (few years old) copy of Library Genesis converted to plaintext and it's around 1TB. I think libgen proper was 50-100TB at the time, so we can probably assume that AA (~1PB) would be around 10-20TB when converted to plaintext. You'd probably spend several weeks torrenting a chunk of the archive, converting ev…
The main barriers for me would be: 1. Why? Who would use that? What’s the problem with the other search engines? How will it be paid for? 2. Potential legal issues. The technical barriers are at least challenging and interesting. Providing a service with significant upfront investment needs with no product or service vision that I’ll likely to be sued for a couple of times a year, probably losing with who knows what…
2. I really don't see how this could ever lead to any kind of legal issue. You're not hosting any of the content itself, just offering a search feature for it. GoodReads doesn't need legal permission to index popular books, for example.
In general I get the sense that your comment is written from the perspective of an entrepreneur/startup mindset. I'm sure that's brought you meaning and maybe even some wealth, but it's not a universal one! Some of us are more interested in making something to advance humanity than something likely to make a profit, even if we might look silly in the process.