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This is an interesting example, becase telco has an actual API standards committee (TM Forum). Telcos have decades of experience and extremely well defined (and to a large degree shared / interchangeable) domain model. It's an ideal scenario for APIs.

Meanwhile your product companies each develop different product, there's little standardization. API designers have only vague idea what the API will be used for and how. Fast evolution is important.

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TM Forum provides a bloated format. It has everything and a kitchen sink. This means that something simple like customer name can be written in multiple places, and different architects will recommend different location. Two different silos within same company won't be able to talk to each other because although they are using same format, they interpret the usage different.

Additionally, this is XML/XSD, different teams will end up using different version of the standard. They won't be able to interface with each other without additional layers of translations. It is not uncommon for one team to need to load multiple versions of the XSDs because different end points use different versions.

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