The capital required to compete is why most US homes only have one broadband provider to choose from, so there isn’t any competition. I am lucky that I have 4 to choose. It’s going to take a while to get competitive internet country-wide.
With people dropping cable in favor of streaming, that is a huge hit on cable company pocketbooks. I don’t know how much most people pay for content, but I pay 35/mo spread over 3 providers, cutting my cable bill from $130 to $70. I saved $30, the cable co lost $60. I’m sure the loss is higher when they lose premium and Sports customers.
Although we as consumers don’t care about individual companies (as we shouldn’t) These cable companies personally can’t take this creative destruction death gracefully. That’s why everyone will see consolidation and ISP charges go up to compensate for those losses.
It will reach an equilibrium, but only when it’s cost effective for competition to move into an area. It’s going to take time and technology updates for that to happen. This is just molasses in the step of progress.