People submitting plain-text to be hashed and stored could attach a fee, and should be default, so miners can work on other peoples hashes, and earn something in that way. Fees wouldn't necessarily be required, so miners could compute their own garbage once it hasn't been worked on before perhaps? Spam messages are tolerated an extent, since MD5 is fast, and miners can hash these for the public good anyway.
Similar networks could be deployed for all hashing algorithms, to get the clock ticking on their demise, and eventually it may highlight issues in the algorithm, and hopefully even result in a collision. There would be an ever present reminder for developers to stay away from weak hash functions, and use adequate salts for passwords, if something like this was working away in the background.
People complain about the blockchain size of Bitcoin, a paltry ~20GB. Rainbow tables can easily reach 200GB or 2000GB. Rainbow tables that are distributed and where people are rewarded for doing low-interest hashes would grow fast. I for one wouldn't want to buy many TBs in order to have an MD5 lookup table/coin.