Honestly it just sounds like every other server farm out there. Rent a server, put your data on it, hope the service doesn’t go down and trust that the company isn’t selling your data behind your back.
Don’t get me wrong, I like the idea they propose. But mechanically, it seems to work like any other place.
Want to convince me? Make a service where I can rent my own server ( not just a portion of it ) and physically own it. Nobody, not even the provider, can access it without my explicit permission in written form ( email with digital signatures ).
Until then, this “Small Web” service just sounds like every other server provider out there.