*These are not hypotheticals, see Mill Valley, CA where cell phone towers cause cancer and 5g is persona non grata.
Since you mentioned 'fair value' for land -- why is it you are arguing FOR rent seeking? That's extortion, not fair valuation.
For the telecoms. They're only regulating how much municipalities can charge telecoms, not how much the telecoms can charge consumers. But I'm sure the benefits will trickle down.
I have to concur. NIMBY groups (or cities that are effectively run by and for NIMBYs) makes building cell sites more difficult -> cell network operators need to spend more money building cell sites -> cell service is a bit more expensive and shittier for everyone (and it's far more difficult for newcomers to challenge incumbents). In US we have stupidly expensive (compared to many other countries) cell service with annoying data caps, and enabling NIMBYs to obstruct/make more expensive/block construction of new 5G (or LTE) cell sites will not help that.
If cities make it super difficult for cell operators to install cell sites, it's ordinary people with cell phones who suffer -- through increased service costs, worse service, and shorter battery life (the longer the distance between the phone and the cell site, the more power the phone needs to use).
I'm not some kind of telco industry shill; that industry does lots of things that I find sincerely loathsome -- between selling location data to the most hinky of "data brokers" and trying to do blatantly anti-competitive mergers -- but it's difficult for me to see how letting cities make it more difficult/expensive to install cell towers will help customers out.
NIMBY-ism and red tape is a problem, and it has real costs (paperwork and waiting for approval, getting rejected, fixing up the paperwork, licking butt, lobbying, resubmitting, waiting again are all expensive), but simply pushing this on cities is not going to help.