You got it wrong. The radio station does not pay a cent for its use of the bandwidth. The "public" is in a sense subsidizing these owners
If the bandwidth was privatized, one or two corporate entities could end up owning all of the frequency range (a finite thing) . This was deemed "not in the Public's interest" (a reasonable regulatory impulse, IMO).
Therefore , in the same way that Public untilities can not raise rates whenever they wish, radio station owners have to abide by rules dictating "decorum". Agree or not (and you can always vote the Executive Branch officeholders, who assign FCC board members, out), this is not "un Constitutional".
So it is your opinion that all finite commodities should be doled out by government.
(A period, not a question mark. You have left yourself no wiggle room for any answer other than agreement that this is the logical corrolary to your statement.)