Fibre wasn't needed at all, at least not for the majority of households. It was always folly to think that fibre could be connected to every premises in a country the size of Australia. It was always going to end badly, as did most of Rudd's policies. Telstra is in the box seat in my view with 4G and 5G, people need the mobility this offers and most will opt for this rather than the NBN. According to the CEO of the NBN fibre will only be good for ten years anyway and will be superseded. By the way the 120 billion so called made up figure is conservative.
Where to now for long term investors of Telstra, page-1077
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