I would love to see a group of hackers get together to create a real (i.e. not a weak ARM device) computer and operating system, for profit, but open source. It seems like people have mostly given up on this notion, as if its impossible to create a competing device. In the 70s/80s, a few people launched brands like Apple, Microsoft, and Amiga; I know things are harder now but it is far from impossible.

Why for profit? So that people have both an incentive and means to work on the product fulltime.