It's easy enough to just set up a Mastodon/Lemmy/Pixelfed instance, and people have already done so. You could do it yourself with your own moderation policies if that's something you're worried about.
The big problem is how to get people to use your platform. Artists want to go where people are and people want to go where artists are.
If 2023 is anything to go by, it takes a really, really big thing to actually materially move people from one platform to another. Looking at Bluesky, people don't really care about features either.