Does it really matter if we have an excess of capacity when incumbents own the last mile and prevent open peering close to home and/or charge ridicious per mbit prices for transit or private peering. A little up the ladder for example you can already get HE in AUS https://pop.he.net/?country=Australia so think sub $1/mbit pricing but its all pointless* as 90% of the eyeball ISPs won't peer with them. *pointless is an exaggeration but doesn't help content providers or end users