I agree that TLS customer service is terrible but respectfully point out that I receive excellent service and cheap fixed broadband from TPG and they rely primarily on nbn infrastructure to deliver my service. It's arguable that a similar premium mobile service could be delivered by a company without their own mobile infrastructure.
As for TenCent I think people underestimate the skills required to deliver on that model. If they developed a successful incubator culture I'd suggest they spin it off. Put aside that TenCent businesses rely on TLS infrastructure and there is negligible overlap in skills. Telstra can't even make the most of their own assets, how the hell can they compete in the startup domain?
One might as well say that Australia Post should invest in online retailers because their product is delivered by post
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