A lot of the basic pieces are in place. Torrenting/peer tube for distribution. Modern day royalty free codecs. Realistically the two biggest hurdles are how to monetize responsibly, and bringing people in. It's something that in one shape or form will always require some small donation of time and resources. And it's easier to convince someone to join a Ponzi scheme telling them you will make them wealthy. Than it is to get someone to join guaranteeing that you'll never make them wealthy but you will try to make them secure in their lives.