No - the problem was monopolistic regulation in the first place. The whole thing with telecoms not sharing lines and not permitting overlapping networks is a device of the FCC's own making (and their predecessors). The Kingsbury Commitment in 1913 established AT&T as the government-enforced monopolist, and the FCC cemented their monopoly in 1934. Even when AT&T was broken up in 1984, it was just dividing the monopoly up into pieces, without permitting actual competition on the lines.
To this day, you can run (one) cable wire right next to a telephone wire, but you can't run a telephone wire next to a telephone wire, or a cable wire next to a cable wire - largely because of the FCC. The lack of competition is entirely their doing in their quest to guarantee the profits of telecoms, censor radio and television, and generally stamp out anything resembling a disruptive technology.
That's what makes this whole campaign so hilarious - the FCC is literally the exact opposite of neutral, and the last government agency you want regulating anything that has to do with fairness, free speech, or competition. If the "Net Neutrality" people get their way, they are going to kill the Internet in the name of making it better.