You have to take a broader view and realize this is an industry like any other - telecoms, Railroads; they went through consolidation. Why shouldn't the computer industry be any different? This shouldn't have been a surprise to anybody but it seemed to be, and a lot of people thought I was nuts when I said these things. And that's why they are alone as a consolidator.
Everyone loves the idea of internet fast enough that HD movies download in seconds, but if only the telecoms or their partners get to use the high speeds, it's not the internet: It's glorified cable.
If you are worried about the risk to your reputation, you don't launch a telecoms firm in an aggressive way.