You can run a better journal for free than what you can get from Elsevier. Throw in forums, video conferencing and shared docs and you can build entire academic structures in the cloud. Run a journal on a subreddit, papers on arxiv, video on meet (recordings posted to youtube), code in github, computation on colab notebooks. WeWork should offer wetlab space. ;)
Ideally we would have a storage commons where data that doesn't fit into the arxiv model of papers. Something like object storage but with some built in structure.
If you staff and pay for it.
You're also forgetting that the entire point of Journals is so that research institutions don't have to think about how to dole out the grant money. In addition to actually creating an entire new journal, you also have to make sure its "reputation" is better than the existing journals, or nobody will use it.