"Hundreds of billions" invested in broadband and yet we still lag behind

In starting to peruse the reply comments to the FCC on formulating a national broadband policy, something NCTA said caught my eye, namely that the FCC should acknowledge that one of the many successes in the broadband marketplace has been the hundreds of billions of dollars invested by private operators in building broadband networks.

While I appreciate the sentiment that a deregulatory attitude towards broadband has spurred massive investment in a variety of networks, I'm having a hard time resolving this with the fact that the US is nowhere near the top five in terms of broadband rankings...