I completely agree. It seems useless to waste money on a third or fourth best TV offering. The market is already saturated with satellite and cable. IPTV would not garner many subs, but the cost outlay would be tremendous.
You can rationalize the IPTV as being free with the VDSL Internet offering. The IPTV costs are a few AAA servers and the programing costs, and loans for the set top boxes.