If we started over, not utilizing binary storageNot sure if this is what you mean, but there are several news servers that only pull the non binary group feeds. Some of them are free. As simonblack mentioned, there would just need to be a significant effort to show people how easy it is to use them. This would include how to filter out spam, or filter in known-good people and content.
As wmf mentioned, you can also host your own node (leafnode or hamster). I have not run them. What limits you put on the server would be up to you and who you replicate to/from would be up to you much in the same high level concept IRC servers can be interconnected assuming the admins of each set of servers agree with each others policies.
Why would this be a bad idea?
As with self hosting any software there is the matter of having a documented policy on acceptable use, how you will remediate illegal material, handle abuse complaints, etc... It is not something that can be set and forgotten about. As to whether or not that is a bad idea depends on how much free time and patience you have. The people you replicate from would have to have to perform the same due diligence as you. So basically the same issues as running chat, forum, wiki, fediverse, shared email, chan and other servers. Running any of these things requires the cognitive fortitude, lack of bias, patience, ability to deal with challenging people and so on. In other words, what dang and team do here 24/7/365.
There is some additional information here [1] on running your own news servers.
[1] - https://wiki.gentoo.org/wiki/Usenet#How_do_I_run_a_local_Use...