[phpisthebest]

>>Public goods must be nonrivalous and nonexcludable.

Says who?

>> Auctions are a decent way to do that;

Clearly they are not, nor it is how that is done, as entire segments are portioned off for a use, then auctioned off for that use.

>So long as they are public and truly go to the highest bidder, I'm not sure there is much to be dissatisfied about.

Lots. for one the fact that companies can buy up huge parts of the spectrum for "future use" and sit on it for decades denying access for innovation.