That sounds a lot more appealing to me than the government actually building the thing.

With the EM spectrum for instance, the unlicensed 2.4GHz and 5GHz bands have been pretty useful. Google actually tried to get the 700 MHz spectrum (in the 2008 auction) licensed in a way that would probably benefit consumers quite a bit, though I'm not sure how well that worked. It's odd that Google had to do that when it's ostensibly the government's job to ensure good use of this limited natural resource, but I think the idea was good.