“They had that rule saying use it or lose it with the spectrum and it resulted in a bubble of telecom equipment manufacturers that charged too much that the service operators nearly all went bankrupt.”
I am not saying “use it or lose it”. That would put all the past errors that permitting hoarding that is already taking place to land back in the market. There should be additional rules relative to that spectrum.
What should result, without ready and able plans to use spectrum, is fewer bidders and lower prices paid at the auctions. I doubt it will result in a “bubble” market for equipment. With the slow level of present build-out we have a slump in the domestic equipment market - down -4.8% 2012-2016.
We have done that and it failed