>The fact these companies have received significant subsidies and have such little to show for it gives more reason to have regulations in place such as this. No regulations only work if companies aren't greedy profit-first motivated entities. Regulations are important for shaping and limiting the inherit greed that humanity as a collective has.
This is a really broad near-truism that doesn't engage with any of the particulars. The point is that the FCC is requiring you to practice discrimination/affirmative action with regards to your build-out (and other) decisions. You have to figure out where the minorities are and make a point of building out to them, and make less money as a result (how much less? they won't tell you. better hope you guess right). Let's say this law didn't exist and you were doing just that, but in favor of white people, contrary your profit interests. That would be a slam dunk racial discrimination case. But that's exactly what the FCC is requiring here, just with good feelings attached because it's in favor of minorities. This is affirmative action, which the Supreme Court has recently said is no longer legal in the United States.
As for the subsidies, the way they work is, roughly, the government offers you a certain amount of money to build an area, and if you don't, they either give you an extension or fine you or take the money back or some mixture of the three. There's also been reverse auction type approaches, where the government takes bids for people to build out to an area and awards the subsidy to the lowest bidder. It's not like the government just cuts AT&T a $10 billion check and says go forth and build broadband where you see fit. If you have a problem with how the subsidies work, then redesign them.