We need archives built on decentralized storage. Don't get me wrong, I really like and support the work Internet Archive is doing, but preserving history is too important to entrust it solely to singular entities, which means singular points of failure.
There's no real financial incentive for people to archive the data as a singular entity so even less for a distributed collection. Also it's probably easier to fund a single entity sufficiently so they can have security/code audits than a bunch of entities all trying to work together.
Some people are motivated by more than just financial incentive.
That's true, but something like archiving the internet is very costly, IA has an annual budget in the tens of millions.
Yes, it's a good point. Though they could take that money and reward people for hosting the data as well, couldn't they? They don't have to be in charge of hosting.