[xenadu02]

That's correct.

ISPs are simply rent-extracting. The majority of the US (even in urban areas) has little or no broadband competition so there is no penalty on ISPs for double-dipping. They're hugely profitable and transit costs continue their slide toward zero. The big players are mostly refusing to expand fiber deployments.

It has nothing to do with investments in their network, the cost of providing service, or anything else. They can increase profits by squeezing the likes of Google, Apple, Netflix, etc. So they will.