I follow what the operators tell Wall St, because the executives have large personal financial stakes in getting it right (modulo fraud, but lets trust for now).

For example, at the last investor day that AT&T held, they indicated [0:pdf] that their growth plans are in broadband fiber, not building more 5G capacity to serve a surge in traffic. Reading their charts and knowing how AT&T traditionally worked, I believe that they are going to try to cut the expense of running the 5G network via various optimizations and redirect capital heavily to go after the fiber broadband market instead, using convergence (ahem: price bundling) to win subscribers.

(I bet it really stuck in their craw that Comcast mastered the bundle so well that they even built a successful MVNO on the back of their xfinity customer base and parked their tanks on AT&Ts lawn while the latter was futzing about with HBO.)

However, bundling is a price compression game, not an ARPU growth game. If you start at $100 a month and then begin chipping away with autopay discounts, mobile convergence, free visa gift cards and all that nonsense, pretty soon you are selling broadband for $35 a month and can't make it work except with truly cruddy service, which leads to high churn rates. So we'll see how this turns out.

[0:pdf] https://investors.att.com/~/media/Files/A/ATT-IR-V2/reports-...