I think this is honestly the biggest legitimate concern for the carriers: where the bits go. Right now a hypothetical metro area might have a 20G circuit to Ca

I think this is honestly the biggest legitimate concern for the carriers: where the bits go. Right now a hypothetical metro area might have a 20G circuit to Carrier A, a 20G circuit to Carrier B, and 20G of private peering to {Netflix, Google, etc}. With private relay they need to rip all that out and replace it with a 60G pipe to Apple.