Gathering street view like data, processing it, running the service and keeping it up to date would require millions if not billions of dollars/euros in capturing equipment, server farms, wages, electricity, lawfirms.

If you want something thats compareable to the google service, its entirely impossible to do it with a project structure like osm has.

Even if someone had the funding to get started, they would most likely get bought out by google or apple or microsoft very quickly once they got comparable results.

Actually, there is. There is mapillary (bought by Meta at some point) and KartaView (I don't think it is that popular). Code is not free, but licence for images is permissive. My personal favorite is Panoramax - completely open source, open licence and even federated!, but it is still in early stages, but keep an eye on it, looks promising. As always, problem with these efforts is not source code, but rather data.

Well, if you want to do it properly you'll have to mount a 360° camera on a car and drive a car through every street of the whole world. Takes a while. And then you'll have to obey the countries privacy laws and at least blur all faces and licence plates.

There are other mapping services that do it but Google were the first who got really popular and did it on a massive scale.

https://wiki.openstreetmap.org/wiki/Street-level_imagery_services#With_photosphere_support

I was also looking into this recently, and I think one of the limiting factors would be the storage and processing power you'd need to blur faces and license plates and then let everyone have access to millions of photos on demand.