I have FTTH with AT&T Uverse yet they only offer at max 22 mbps down / 3 up at around $60/month. Is lack of competition the only reason why AT&T doesn't offer

I have FTTH with AT&T Uverse yet they only offer at max 22 mbps down / 3 up at around $60/month. Is lack of competition the only reason why AT&T doesn't offer me more speed? I mean why would they? It's either AT&T or dial-up.