[Skunkworks] What's the future of Telcos?

Simply put, if Telcos are investing so much on internet then where does that leave their business when software like Skype exists?   Skype and software similar to skype are **free** to call anywhere in the world. There are also versions that run on mobile devices so the owner of the device doesn't need to connect to a PC.   US and Europe have very cheap call rates on their networks so Skype might not be a big threat. Our local Telcos don't seem to be close to offering such rates.   Another beast: If power over IP is 'perfected' then KPLC might just as well venture into internet distribution, and where does that leave the internal networking infrastructure? (internal fibre backbone, wireless base stations, ...) o_O?