Compared to the Google/Facebook and other websites who run over these networks the Telcos barely capture any of the value in that exchange for themselves, whilst stumping for huge amounts of the capex
Meta alone made more than those three combined at $60B, Google made $132B
Well, it would be weird if a loaf of bread cost less then the wheat it's made from.
This is more like, 90% of the money from selling the bread goes to the guy slicing it, while the ones who bought, own and operate the ovens get the other 10%