To some extent the main limitation for a truly federated, decentralized and open network like this is that hosting capacity is, for purely practical reasons, no

To some extent the main limitation for a truly federated, decentralized and open network like this is that hosting capacity is, for purely practical reasons, not democratized to the extent that internet access is. Somehow this used to be better, it looks like ISPs used to (and in some cases still do) provide each customer with some way of hosting files and even publishing static webpages. But while this may have been (barely) enough for the early web it's simply not flexible enough to support the current social networks.