Bandwidth isn't like water, or electricity. It isn't "wasted." In fact, in most cases, newer and faster equipment uses less power than old antiquated versions.
Any time you do an update, any time you upload a video, or download a large file, you're wasting seconds, minutes, or even hours waiting for this to happen.
Nothing is wasted by having more bandwidth, only less. The faster the internet gets as a whole, the more productive we can be at work, and the more fun we can have at home. Nobody likes waiting, and there's no reason we should have to. ISPs are currently making way more money than they should from the amount of bandwidth they give us.