I would prefer a decentralized social network based on boxes you plug into your router with content shared in a way that fellow users bear the weight of shared content like torrents. You could rent the box or buy outright with money to develop paid for by a premium on the box or by the rent wherein even a modest rent would outstrip the cost of buying like a cable box.
This is something that the SoLiD (Social Linked Data) initiative, based on web and linked-data standards, is expressly built to support; your "box" would implement what the initiative calls a Personal Online Datastore, or POD. Though "federated" third-party hosting of such datastores is also allowed for, of course.