The issue is that it is not enough to throw money at random projects. There should be at least high-level plan and rather specific goals. Frankly, "reclaim public internet" is a nice slogan, but it is too abstract to be a good, meaningful goal.

Also money is but a one issue. Free software has a big problem with coordination of efforts. Though many claim it is its strength, it is a handicap when it comes to political action (and free software is a political action).

In short, what we need is an equivalent of grand industrial policies of the past, but this time for free software.