very fast data access to recent data and in some cases I believe faster than local hdd (ref: Popular Get Request - #4 by dirvine).
So loading popular apps and OS from SAFE may be comparable, or even faster than loading from local disk.
That makes the OP entirely feasible, and is a definite incentive for people to ditch their local OS/program storage and load stuff from the network.
Locally stored code is also vulnerable to virus infection whereas reference copies of code can’t be infected in the network, do there are also security benefits.