OMG do something really well and charge what the market will bear and you can make a profit. Not only do you put more focus on your network being the essential piece of the greater puzzle you create an ecosystem where you're basically water.
The problem with wireless companies and other network providers is that they're focused on everything but the damn pipe. If they did that and let others handle the content and apps it would be a win for everyone. More jobs would be generated as new companies form to build the next generation of apps etc.
The "Dumb Pipe" operators could make a killing with a minimum of investment. And please do not point out Utopia as a failed example, it was not big enough to succeed. If AT&T or Verizon were to move to dumb pipe it would spawn the needed investment into content.