There are some projects going on to do just that. Another (now dead) comment mentioned Zeronet, which is a good start. There's also IPFS, and some other lesser known ones. I think there were some based on Ethereum and other crypto as well.

The problem with all of these projects is content. Because there is low usage and a technical barrier to entry, nobody is bothering to put up interesting content that would attract users. (Except for some, ahem, "fringe" interests.) It's a chicken-and-egg problem. I keep hoping that one of these regulations will rekindle interest in distributed hosting, but it hasn't happened yet.

If some advocates would be willing to convince (and possibly help) some major OSS-related resources to establish a beachhead, it might help draw in some of that crowd at least. Adoption there would probably improve the systems, gradually bringing in people from the outside like with the original Internet.

I wish the EU would, so that it stops damaging things for the rest of the planet. Eventually the costs of complying with the EU's decrees will get high enough where it will make more sense for companies to block European traffic than comply.