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One reason is that the barriers to entry are huge. Not very many folks can launch satellites into space. Cable companies are a regulated market. Cities and towns only allow ONE, in rare instances, TWO. Now there are occasional options for a second provider using telephone lines, but largely there isn't choice because of barriers of entry.
Costs are high, and rising.
Why will the smartphone industry be different? Cities and towns already regulate the number of towers and location of them. Barriers to entry are large, and competition is low to the point of 4 major providers. All "sub tier" providers have to use tower space from the big 4. The big 4 controls the leases, and the terms of those leases.
So, you, or me are just gonna waltz into the big 4 and demand a contract so we can "knock off" the subscriber base with cheap internet? Yeah. That's not likely to happen anytime soon. It'll take a technological shift that probably isn't even in the making, especially since clear wireless teamed up with Sprint. That was probably the best hope.
You're already seeing change agents, though. Small, regional companies like Cricket are coming in, leasing the same towers the big boys use, and going with the pre-paid model that is used in the vast majority of the rest of the world. They're able to offer much lower prices, though handsets are ridiculously expensive (since they're unsubsidized). It'll be great once everyone uses the sim and unlocks handsets become the norm. Then the carriers will really have to compete on price and that will be a great thing. With Verizon going to LTE and Spring soon making the change, this will get us one step closer to this.