No, no, no, no, no, let's not go there. Small independent hosters is a more compelling solution.
Yes, our culture is perfectly capable of delivering essential (and nonessential but nonetheless everyday) services through regulated private independent companies. Typically some sort of exclusive license is granted, yet to maintain that license certain standards must be adhered to. You can see a dozen examples of this on any high street, any business handling food for example.
Which kinda suggest governments should run their own email services.