It’s never work in the US because holding private companies accountable for how they spend public money and maintaining well regulated competitive markets is communism or something
It did work in the US for many years. During the 90’s the Internet was regulated like that. Phone lines, t1’s etc were infrastructure that the ilec was required to provide at the same cost to isps they used internally to sell service to consumers.
Then Bush came in and ruled that fiber and cable were immune from those common carrier laws.
Ugh! Now I have the desire to play Super Star Trek. Because the cool kids in the computer club (they had very limited space in the computer room and I didn’t get in) got to play it on the mainframe teletype.