Auction of spectrum solve issues...
"...a big auction of new spectrum is going to solve all the issues with 5G..."
Never, ever, never-ever "sell" spectrum.
Instead, sell a lease for some extended duration (maybe 10 years).
Then, make renewal of the lease conditional on 'good behaviour' during that period. Make sure that they realize that somebody is keeping score every single year, equally weighted. Low score equals eviction, with a new auction. Medium score means a shorter renewal duration. A high score might mean a new 15-year term. Their choice.
(If you've already made a mistake along these lines, then correct it by re-nationalizing the spectrum, replacing any "ownership rights" with a replacement lease, under these same conditions. Damages would be minimal since all they need to do is behave themselves; they'd have a weak argument that they were planning to achieve a low score...)
Only by keeping one hand on the dog leash have you any hope of instilling good behaviour.
If you "sell" the public airwaves, then the telcos will form packs of wild dogs, and terrorize the public.
Exactly as has happened...