At the very least, they wouldn't have the overwhelming advantage when negotiating peering terms with content and carrier networks. Eyeball (broadband) networks

At the very least, they wouldn't have the overwhelming advantage when negotiating peering terms with content and carrier networks. Eyeball (broadband) networks currently have far too much power, and is the reason why they make huge profits while pretty much every primarily carrier network loses money. The cost of Internet connectivity is dependent on the cost of cable in the ground, and the cost of equipment. For both, carrier networks have to make larger (and thus riskier) capital outlays and pay a premium to operate at a larger scale. Meanwhile, the broadband networks received billions of public funds on the condition they'd ensure access in rural areas and provide a minimum level of service, both of which they haven't done yet kept the money.