That is true, but it is also part of the problem.  I can remember when the Colorado PUC Staff and the Consumers Council were arguing for service lives of 40 years for certain classes of outside plant.  Unfortunately, their projections of ECONOMIC service lives as opposed to theoretical PHYSICAL service lives were more than a tad off.  Companies such as U S WEST invested billions of dollars into what would become economically stranded plant.
     
Take a look at the price of CTL stock today -- $18.26.  Even at that price it is selling at a ridiculous 27 times earnings.  If many rural communities want Broadband they will need to get a different type of funding that does not rely on long term capital commitments by investor owned utilities.  Many are looking into using publicly owned systems.  These are supported by FCC generated fees (will start to disappear) and State funding either via targeted taxes or general funds.