The question is too simplistic ... It is not (simply) a matter of small
vs. big or being on your own network from source-to-destination. Peering
is an enabler ... and gives all an opportunity to share content globally
... kinda' fundamental to the Internet consortium.
Is your question, 'Since fiber is so cheap, why doesn't everyone build
an autonomous, facilities-based, global "Internet" network that competes
for narrowband/broadband "pullers" of data and hosting/data centers/etc.
for content providers ("pulled-fromers" or "pushers" of data)?
Gary