NBN technician Rajav Kapil connecting an apartment block to the National Broadband Network (NBN) in Brunswick, Melbourne, Tuesday, March 11, 2014. (AAP Image/David Crosling)

The failure of the NBN project is no longer a matter of partisan disputation. Tony Abbott charged Malcolm Turnbull with "demolishing" the NBN and, according to Standard & Poor's, he's done a pretty good job of achieving just that. Moreover, the damage extends beyond the NBN to a massive misallocation of resources as rivals pour money into wireless broadband to overcome NBN's regulated dominance of fixed broadband.

For the man who once proudly stood at the dispatch box to theatrically mock the "Conrovian" NBN to the chortles of his colleagues, the S&P report is humiliating -- especially its damning of what it calls NBN's "inferior" or "retrograde" technology mix. That's the mix Turnbull forced on the NBN when the Liberals took power, in what turned out to be a failed attempt to both lower the cost and reduce the rollout schedule of the network. The NBN is still way behind schedule, and likely to own up to being further behind next month, while the cost under Turnbull blew out by more than $8 billion, with the crowning glory of NBN acquiring Optus' HFC cable as part of its "technology mix" and then abandoning it entirely.