Viewing the fee as being for a volume of storage doesn't seem the right perspective. It's $1500 to lease some %age of spectrum for some period. If true Teletext on an analogue signal and broadcast vs cable, then $1500 for 0.05% of the total non-media spectrum doesn't feel like a terrible deal.

$1500 today is probably in the region of 10s of GB, sure, but that's almost a commodity volume by comparison in terms of supply.