My understanding of the architecture - which might be wrong since I'm not involved in the project whatsoever - is that the nexus codebase will merely index content in order to make discovery faster. The current position is a mesh of homeservers, leveraging Kademlia... so instead of web-ring, we have homeserver-mesh. But Kademlia mathematically optimises peer connections (based on available resource of each node) to achieve whole-mesh-optimality. I haven't had a chance to spin-up a homeserver yet since I don't have much spare time during winter, but it's on my backlog. I saw in the recent dev call that homeserver admin panel now has a nice clickable user interface... and there's also an Umbrel homeserver app that's either been released or is close to release.

Also, I assume nexus will also be decentralised (i.e. option to run locally or intra-community)