The biggest joke is that the vast majority of your data will be running over fibre optic cables at some point of its journey in any case !!
Back in the 80s when fibre optic was just coming into mainstream use, BT wanted to start upgrading all the 'local ends' and install a fibre optic directly to everyones home. Due to regulatory and competition issues, they weren't allowed to as it would prove to expensive for them to do the work and then be forced by Oftel to allow other companies to lease them from BT to sell their services to provide 'competition'.
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You nailed it. The UK telecoms 'market' is totally fake and you are right. Fibre optic cable has been around for a very long time. The whole creation of Openreach, the network wing of British Telecom was spun off to make for a more competitive market. What a farce that was and still is.
People have been mugged into thinking that all these 'new' telecoms companies provide faster services when in fact they are using exactly the same copper lines from the box in the street to your home.
It boggles the brain that so many people have and continue to be duped?