The question YOU should ask yourself is why you think ATT & comsat will do a 180 turn and stop their attempts to kill the free market after this.
Unless a company with lots of expendable income is going to enter the market as a competitor, there won't be very many new ISPs that can offer more than aDSL speeds. Most US communities have one or two local ISP outside of the cable company and teleco providers like Time Warner and AT&T. The speeds are only good for people who check email and don't mind watching video at 480p. The other is satellite with similar speeds at even higher prices.
To answer your question though, no. It was misused infrastructure that was basically given away to telecos. Instead of sharing it like a utility, they took it and ran with it.
If we're really on the regulation-is-bad-mmkay train, then also on the chopping block needs to be franchise agreements, agreements where high-density housing buildings can only use one provider, and so on.
I can't think of a better way to challenge an idea than by asking questions.