Well, call me biased, but here's a few thoughts.
First of all, The "Internet" is a U.S. invention.
Second of all, the 'Net is the ultimate "peer to peer". I run my own web server. I'll be dipped if I'm going to let someone tell me what I can do with my own computer, in my own home. (No, I'm not running a porn site... lol... just e-mail, recipes, and network monitoring softare for some hotels who's wifi I manage).
However, since the de-regulation of the domain naming, I think things have gotten a little more confusing. The doling out of domain names and top-level IP addresses should be centralized (as it once was) by a non-profit organization.
My thought? Perhaps putting it back in the hands of the universities... they could house the root servers, get part of the $$ for domain name registration to be used for system maintenance, and the RFC's and research for expanding the net could become a coalition of universities.
Think about it... the Universities would need to be non-biased... but it would give them incredible opportunity for management, growth, and learning, as well as a little kick in the budget for managing the root servers....
Just my 2¢
"In order to start solving a problem, one must first identify its owner." --Me
--Greg