Like what happened last time, you mean.
That doesn't mean we can't ever do useful work by subsidizing the deployment on infrastructure.
We can and should spend public money to improve broadband infrastructure. I have seen quite a few hugely successful subsidized broadband deployments from PUDs and small municipal power distribution companies in even lightly populated counties. For my money, continuing to subsidize these organizations and empowering them to sell broadband access direct to consumers is a huge value for the money.