Only people doing stuff for fun and making it available to everyone else for free, on their own expense because they want to do it?
It'd have its own DNS system, everyone gets a public routable IP so they can host their services, and everyone can register one domain name that's not already taken.
The list of registered domains would be available to anyone so discoverability would be possible.
Should we build something like this on top of the public Internet and live a more simple life?