I've spent 2007 designing and implementing a content network for a company that dealt massive outbound bandwidth. I won't insist on the exact volumes, nor on the company's name, but the volumes I talk about were more than the smaller ISPs in France.
Back in end 2006, when we thought copious amounts of bandwidth was THE leverage for getting cheaper transit per meg costs, we soon noticed that it would get harder and harder to peer with such volumes.
In our very naive mind, we would have thought that us, content providers where the ones to make plain internet access interesting.

We obviously were wrong...