As a geek
I love the idea of running a Linux micro-server. Heck I already run my own email server.
Of course the services provided by these boxes would have to offer a high level of security, and if I was going to host other people's data without knowing what it is, I would want a decent level of immunity if that data turned out to be illegal. Getting in trouble for what someone else has done behind your back is the opposite of freedom.
Nonetheless it sounds like a worthy idea. A decentralised peer to peer "cloud" run by the people for the people. Everything open-sourced so that security can be confirmed and improved rather than simply assumed. At any rate it's gotta be more secure than trusting Facebook with all your data.
I don't know if it will take off though. No doubt governments and lobby groups would shit a brick; "if we can't control it then all sorts of illegal things will happen". It's a bit like arguing against space exploration because colonising space will surely lead to a spate extraterrestrial rapes. It's just a bullshit argument people use to scare each other out of making any meaningful progress in their lives.
They want to believe that the world is too dangerous for us to be allowed any real freedom and in the process they make that danger a visceral reality by cultivating the idea that a constant state of autopanic is not just healthy, but a duty you owe to society as penance for being born. Sort of religion 2.0 if you will.
Go back to sleep, the Facebook has you.