There can be more than one problem. In your area regulation may be a significant part of the problem but in other places (e.g. Europe) regulation can really help in places to enable competition.
Most economic "laws" apply in competitive markets with limited barriers to entry. It is hard to see how they apply even in an unregulated situation where infrastructure costs are so high and one market participant already has infrastructure in place.
Looking at an existing market with an incumbent trying to move in and challenge them is rarely a wise move whatever their current price. They are in a position to reduce prices and make your entry unviable, they know it and you know it so they can continue charging high monopoly rates until a challenger does announce themselves.
Government can do better (doesn't mean they always will) because:
1) They can look at community benefits not just the ROI for the provider. In a way they win if the incumbent just reduces prices and improves service even if they actually lose some money they have invested in a competitor.
2) They can look long term.
3) They can set rules such as requiring the infrastructure owner to allow other providers to use their lines and regulate the pricing in that monopoly market (happens in the UK). [Don't know what level of government in the US could be capable of this.]