Altslashdot would be run on a number of independent web servers, which would utilise some syncing protocol in order to serve exact copies. The syncing would likely be cheap, because there would be only a small number of peers to propagate changes to.
The possibility of running such a server would be open, in a hope, that a large number of these would eventually be created. "Hub" sites might exist, that would redirect to the least--loaded servers.
Beside sharing hosting cost, the architecture would enable the exclusion of a rogue server.