Ah no, I don't believe so. You're missing a lot of things but the main one is that bandwidth demand is increasing at a comparable rate to transmission technology (wireless and terrestrial) so by the time 5G is available our bandwidth needs will have leapt ahead again.
Fibre wasn't just meant to support current transmission technology but provide the basis for future growth (much like Copper was used to carry ADSL etc.). One of the reasons why keeping the copper was so galactically stupid.
As for your claim that Labor is the party of protection for "saving old industries" you're either a one eyed conservative or monumentally ignorant.
Coal v Renewables
TV/Cable v Internet
Copper v Fibre
Forestry v Tourism
I can think of no party in any country more hostile to any form of innovation that might impact their rent seeking supporters than our local Conservative parties.
Where to now for long term investors of Telstra, page-1100
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