Kind of, but it should be vertically integrated between "cloud" and "edge" and "home-network" and "mobile." With all of that being either resources you own, or resources you're personally billed for, directly by the providers (though aggregated per app), with no ability for the app to extract rents on the costs of those resources (i.e. you're not paying the app so that the app in turn pays for the resources; you're being billed by the "cloud" and "edge" providers directly.)

If you install e.g. a Photos app, then that'd be a viewer app + cache on your phone; a bounded-size cache on your NAS or ISP gateway-router; a thumbnailing and face-detection background worker started in your ISP's edge DC; and a primary store in some cloud.

If you install e.g. Minecraft, then the server for that game will dynamically reposition itself (and migrate its data) between running embedded on device, vs. on appliance-compute on your home network, vs. on your ISP's edge-compute, vs. on the cloud — depending on whether you're playing single-player, vs. multiplayer with someone else on the same network, vs. at least one player being elsewhere in your region, vs. people connecting all over the world. (And, of course, when nobody is connected to it, the server should quiesce to just being dead state and then gradually have that state "evict upward" toward the cloud.)

IMHO a major part of this would be getting ISPs to sell commodity edge-compute power to OS vendors, both in-DC and in-home-network (presumably by putting addressable application processing capability into ISP gateway routers.)