Google is still right, the model is broken
Google is very much right in saying that the compensation model is broken when it comes to call termination.
Basically when a carrier receives a call, they charge a certain amount of money for compensation. The ex Bell carriers charge a small amount (A very low volume wholesale plan would be between 0.002$/minute and 0.006$/minute). Other carriers, mainly rural, mobile and pure voip charge what they want. I've seen rates going from 0.015 to 0.035$/minute for some of these "free" teleconference numbers. Basically the carrier gets paid for the teleconference by billing through the nose the carriers of the people who connect to it.
Of course these rates go down depending on volume, contracts and other factors, but there are some steep differences between the carriers.
Hopefully with Google Weight behind it, the model will be less broken once sufficient pressure has been applied.