That's more or less how it works here in New Zealand. A private company, Chorus, has a monopoly on the network itself, and can only provide the network to other ISPs and not direct to the consumer. I kind of presume there are other regulations in place, or conditions for the $1B subsidy they got for rolling out the fibre network.

As it is, for a household to get a plan that offers download speeds of 700Mbps-900Mbps and no data caps, we're paying NZ$109, or about US$72/mo.