I'm assuming this is going to work as long as a miner has other resources to sell such as storage, and by that metric, things like network traffic and RAM?
PC have free bandwidth and spare compuation. The only cost is a 8T-16T hard disk. No SSD reqiuired.
And remember the user storage requirement is not one-time paid. There is sustainable incoming for miners.
Current PoW mining (where miner connect to pool) only require small bandwidth. If they're expected to store data which could be retrieved anytime, some miner will need to upgrade their internet plan either because low FUP or they subscribe to cheapest plan.
However it didn't gain traction (probably because you need to run full node)
Or just because there isn't much concern. The game theory discourages all kind of attacks. Not just of an outside attacker.
Which show small part of Monero miner have bigger concern about pool centralization compared with Bitcoin miner.