The clearest end point for this is some government issued digital ID that just asserts who you are, acts as a login etc.
You can see this as a stepping stone to there. if you squint.
Is it the idealism of the 70s coke to life? No. Is it some sane compromise - I think so.
What if we cannot trust our government ? Sorry it is pretty sure that no internet is going to solve that. That's on the real world.
This is not going to work. The governments will create millions of fake identities to spread their propaganda, same way as they are making fake passports for spies.
And that's for morally ambiguous cases where the justification is popular and well established things like crime fighting, child porn and so on.
We don't know what will happen in future, but given the story so far, the chances of these companies saying to governments, sure, have 500,000 free accounts so you can spam our users with incompetent political propaganda, is virtually zero.
The chances that they would comply with future government requirements cannot possibly be "virtually zero."
For Google and PRISM, I'm sure it won't change your mind, but I worked there at the time and the reaction was genuine. If there were people inside the firm who knew about it at all it must have been a very small group of spies/double agents, and such people were never detected despite a thorough search. Given that it was all based on fiber taps done by telcos though, it's not clear why they'd need any insiders. The assumption of formal cooperation was based on the phrasing of one or two sentences in some leaked documents, but the way the whole thing was set up didn't actually require it so, what those insiders would have been doing was a bit unclear.
Anyway, this is all by the by. We can't know what will happen in future. But if they won't budge on E2E encryption then it seems unlikely they'd be willing to bypass anti-spam measures, which is far more detectable, far less justifiable, and probably doesn't fit within any existing laws.