It seems as though the primary use case being discussed and implied is torrenting of media that is not legal (however ethical you feel it may be) to torrent in many countries. Please remember that when you do so, you weaken the case the rest of us have against the same laws you're ignoring, against DRM, against intrusions into our privacy, and against unfair ISP practices.
So there are two groups of people on this planet: (a) Those who download stuff illegally instead of paying like 0.01% of their disposable income per year for it whilst making about as much money as those who have created the content. (b) Those who download stuff illegally instead of having no access at all or paying completely unaffordable fantasy prices for it whilst making only a fraction of those who have created…
Technically, it's totally feasible. of course, that only works if the content creators are willing to license the content, and that's difficult for even big players like Netflix.
There's a huge international market for video and bottom disappear prices. case in point: every sketchy DVD store in the third world. there's lots of legitimate money to be made if you were able to sell legally to that market. The real question is: how do you manage the Price differentiation? If a movie costs $10 in the USA and $0.50 in poor, region-excluded country X, how do you keep everyone in the US from buying the $0.50 version?
If put.io solves this problem, it'll become a billion dollar company.