I have been dreaming of creating a mixed hardware/cloud service that would make this possible again in today's internet. Basically, you can open an account and get your own domain and nextcloud + mastodon + wordpress instance. You pay based on how much storage you use. If you want, you can get your entire cloud shipped to your home, attach it to a router there, and then you only pay for my service to be the gateway to the server you have at home. All the data is at home, you have full control.

Of course, the defaults would have to be basically zero-management. But people would be able to choose how much control over their own data they want versus how convenient they want it to be. Right now, it's pretty much all or nothing.