Well, yes, but actually not quite...
It's an infrastructure game.
If I need to build new fiber/cable/whatever to X homes to get N% * X new subscribers, then those costs & profits have to amortize out to at least 0. And most of the time they dont.
We tried to fix this for electric power by separating transmission from distribution ("deregulating") and allowing consumers to have a choice.
There is conflicting evidence as to whether or not this actually lowered prices for consumers.
For internet services, bandwidth is essentially free for providers (for typical usage), so the main costs involved are infrastructure upkeep & customer support. Cable TV distribution & phone/security services typically subsidize these costs too.
Municipal broadband is a nice idea, but it takes a unique set of circumstances for it to work. Consider how many other municipal infrastructure services are 100% run by your city/county.
Maybe there's a different approach. The federal government wants to prevent Huawei from deploying telecom equipment in the US. Maybe we should look at a top-down approach to internet infrastructure funding, the same way we do with highways and schools. If they want to set the rules, they should put up the money to do so. But then again, look at the poor state of our bridges and tunnels...
What's abundantly clear is that telecommunications services are an essential piece of infrastructure for modern commerce. COVID eliminated any doubt whatsoever about this fact. So how do we make sure it's funded well, but also run efficiently? It's not a trivial question by any means.