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Theoretically speaking, could relays replace ISPs, modems and routers?

Yes or No?

Most likely they will all remain interoperable but based on my preliminary DD if there were enough relays connected we would be able to opt out of the legacy internet network and access a true decentralized internet through relays.

Nostr = Web 5

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BITwise 🐳 >>= RIGHTish 2y ago

I don't see why not? It's essentially an intranet no? But you would lose access to anything happening on the legacy internet that isn't copied or ported over.

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