Sure this should be a thing. Right now all the science research journals are owned and regulated by handful private entities. And they charge heavy subscription to access them. This hinders collaboration among researchers & increase the cost of ongoing research projects

It is a big issue. At least in Europe they have taken it seriously and have moved towards open access journals, which are now mandatory for all publicly funded research outputs. See https://oa2020.org/

However, the OA model does not solve the problem. Many researchers from the Global South cannot afford the article processing fees.