See above. It doesn’t.
Before you say “well, Austin proves that the free market works”, you’ll probably also say “people can move to an area with good internet service if that’s what they want.” Should folks have to move to get reliable electric service? We answered that decades ago, with the whole utility concept. Reliable connectivity that fades into the background, whether to an electrical grid or to the Internet, is a system with positive externalities. And luck of the draw on which megacorp (or mom and pop telephone co-op) has the last mile in your area impacts the availability of this connectivity way more than it should.