You simply make your own choices and don't follow/subscribe/view all that illegal, toxic, hate content. You know, the same way you do today by not visiting all those illegal, toxic, hate websites. They still exists though for those who don't share your views on policing content for other people.
Ignoring the problem doesn't make it go away for the victims.
The women whose boyfriends posted private sex pictures as revenge, or the minorities who will be the victims of hate groups organizing on social media, the children who were filmed while being raped and have their video circulating online, the victims of bullying whose bullies are empowered by other people seeing it and not doing anything to stop them...
You can choose to ignore this when you see it, but the victims can't, and it's for their freedom that I'm concerned for.
Yeah, its kind of ridiculous having e.g. the german government expect Facebook what posts are and then delete hate speech and co. If that stuff is illegal, then the persons doing so should be held accountable by our legal system. But politicians love using those companies as easy scape goat. Anyway, p2p solutions usually try to make finding a person to hold accountable harder than current centralized services.
As you say, you can ignore this content today. And yet the authorities still feel obliged to make access to child pornography etc illegal. There is no reason to believe that changing the platform would change this stance.
Just because it can't be dealt with by threatening the odd CEO or two, doesn't mean that it won't be dealt with some other way. Now, it may be the case that governments react to a change like this and just accept that they can't control terrorism, child porn etc etc. But it would be astonishingly naive to assume that that's the most likely outcome.
You simply make your own choices and don't follow/subscribe/view all that illegal, toxic, hate content. You know, the same way you do today by not visiting all those illegal, toxic, hate websites. They still exists though for those who don't share your views on policing content for other people.