If you host blobs for free, somebody is going to use you as their host. Even if you just hosted audio, I'm sure somebody will quickly come along with a steganography tool to hide their content on your site (and use your bandwidth). Similarly, if you make compute power available, people will use you to mine cryptocurrency. Even if all you host is text, somebody will come along to be abusive. When you put a computer on…
Absolute worst case! You're going to end up DMCA'd by the entire music industry.
> It's no longer 1991, when you could assume that such people wouldn't find you.
Even back in the nineties, there was abuse .. but the internet was so much smaller, and it was possible to manually ban them. Except on USENET. The labour of dealing with spam fell to a small number of people, one of whom wrote this astonishing rant: https://www.eyrie.org/~eagle/writing/rant.html
(and partly disowned it, but I think he was right first time)