An Open access - same price for anyone, Layer 2 fibre network (or Wireless - Satellite for remote places or those towns less than 1000 premises) will then allow people to choose a Retail partner of their choice.
Telstra no longer own the whole broadband road and will have to COMPETE in all Facets, for the FIRST time ever!
From my limited understanding, the revenue will go back to the network owner, initially NBN Co (Gov mint)
NBN Co will pay Telstra to decommission each copper loop service customer, replaced (upgraded) by FTTH fibre, this is why they are scrambling to 24 month contract as many customers with T-BUMdles!!
The result of the next federal election (likely to be LNP - but it is never assured!) gives the Noalition an opportunity to favour their mates in Telstra BUT many contracts will already be inked and it will come at a cost to dismantle. And the latest surprise is that Turnbull has back-flipped and has been quoted to say they will now KEEP THE NBN - go figure.
The improvement from poor copper ADSL over to FTTH fibre for long suffering Aussies was one main platform how they lost the last election as Tony Windsor and Rob Oakshott both favoured the idea of fibred services