Regulation is a form of power for the government. Again, this isn't necessarily a bad thing, but government and corporations certainly share a desire to be as powerful as possible. Giving either power should thus be a carefully considered move. In some instances, it makes sense. In some it doesn't. But one can be sure that, either way, the entrenched institutions will not willingly give up any power granted to them.

I think the most salient factor here is that regulation requires good information on how that industry/space works. I don't think its questionable that we are not sure what future the wireless/mobile internet holds, only that it big. Regulating it properly right now seems like a dubious proposition-- either through the traditional kind of government regulation or through the "self-regulation" of large corporations, who will naturally shape such self-regulation to their own advantage.