I like your idea. And I think this doesn't need to have a "host", just a group of individuals willing to give their time to put on a good show. Honestly I would be more than happy to help with visuals and whatelse is necessary.
I remember some years ago there was an idea of these "special editions", with some theme. If we go this route, I think a good theme for this edition would be music about something sport-related. Don't know if it's feasible for all nations here, but it would be a nice way to relate the contest with the Olympics that would have happened about the same time. Of