How is the web not already decentralized? everyone's got an IP address and is free to plug in a server at home.. If the EU should do anything, it should be require by law that any Internet connection comes with a non-carrier-gade-natted ip address, and that it can be made static if the customer desires, for free.
Plus, most consumers here don't care about their IP status (most don't know what an IP is), they mostly care if they can stream YouTube and play Fortnite good enough on their connection.
I wish we could force (and fund) telecoms to extend their fiber network as at least in Germany and Austria it's awful, like going back in Eastern Europe but 15 years in the past.