Host = run the node client.

Maybe it works more like sharing a torrent than running PoW node software.

No matter how the p2p part works, the problem remains - what do we do if they ban the "p2p economy" in the west?

They did not ban "torrenting" yes, but that is also only the music industry that lose on that. The future "p2p" economy is going to destroy the whole fiat system including the banks. They will likely ban this technology this time. Going after those who seed/run a relay/run a node.