Under Ziggy Telstra was investigating fibre to the home, later downgraded to fibre to the node under Sol. The stumbling block was the ACCC not entertaining a request by Telstra for preferential treatment on regulated access. Telstra took it's bat and ball and headed to the mobile space where Telstra's Next-G was born to enduring applause from shareholders. The NBN was a dummy spit by Kevin to Sol's intransigence. That clash of egos has crippled the fixed line telecommunications space for the last decade and probably for the next.
The regulatory environment seems a bit poxy: this is the crux of the problem. While our feral wing nuts are running around trying to scare their voting base with tales of terrorists under the beds and the intelligence community bans branches of mathematics in order to stay one step ahead of the enemy the country goes to hell in a handbasket with no reform anywhere it is needed. For the next 10 or 20 years the demographics will work against any real progress in Australia. Sit back, enjoy the sunshine and marvel at how a country - even one led by the best of British talent - can get it so wrong.