Earlier quoted context omitted.
Yeah, with current consumption being "everyone wants a global DNS and global network access" it's semi-pointless. But that's just a chicken and egg problem. All of Wikipedia, libgen, thingiverse, open source packages, etc. can be locally cached somewhat trivially. Most oldschool games will run P2P fine over arbitrary networks. That's quite powerful indeed. Now we just need some localtalk apps (reinvent 'talk' and BBS…
If only the users were better and didn't want to stream video, or talk on Facebook, or video call each other, I could run a brilliant service!
Keep the bandwidth heavy applications on different channels with a different QoS guarantees and cost structure.