What's the advantage? Or is this for geek-fun purposes
Easy to mirror and thus impossible to take down ..
The wallet code is easy to mirror and impossible to take down as it is already, I'd say.
What good is the wallet code if the api connection is blocked? That's fairly easy to do (if we're considering this level of threat, from that type of adversary), and fairly easy to work around as well, with the right tech skills.
Don't get me wrong, it's a cool gimmick for sure (the whole ipfs concept), but the weak spot here is the api connection, not the wallet code.
Either I grossly misunderstand ipfs, or in the end, it's your computer that's going to connect() to the api server.
Implementing proxy support on the light client (
https://github.com/cryptonomex/graphene-ui/issues/857) goes further to help combat censorship and improve privacy, imo; it would also allow for api endpoints to run on onionland (already possible by transparently proxying the app through tor, but out of reach for 99% of the target users, so yeah), further improving privacy as well.
Just my 2 cents.