What you described at the end of the video isn't that much different from mastodon/fediverse. I don't know if that is what you intended on doing or not.
I think public funding of key projects is an excellent idea. I don't know your background outside of entertainment, but a LOT of what makes modern info tech function was built in the same manner as Mastodon.
This isn't hyperbole: https://xkcd.com/2347/