> No one is offering that service because it would be completely illegal.

It would be technically possible to decentralize distribution while still paying rights holders for each download. Laws could be rewritten to accommodate, encourage or even require this.

My biggest gripe with streaming services is that you literally can't legally own the content you paid for. You can only "license" it. Amazon, Google, Apple, whoever can revoke your access at any time and there's nothing you can do about it. There are plenty of examples of this already happening. The rights holders are protected, but the consumer is fucked. It's untenable, in my opinion.