Which is precisely why $1/Mbit will eventually happen. Period.
Keep history in context here. We used to measure bandwidth in *bits* per second. We bought leased lines in kilobits per second not so long ago! For many thousands of dollars.
Heck, I remember buying my first colo off a fractional t1 (omg fast!!!) which included 64kbit of bandwidth, and additional blocks of 32kbit were a steal at $250/mo each. This was well under the market at the time. The whole 512kbit t1 line was around $2700/mo if I recall - it's been a while. That's $5,400 per megabit.
There *will* be a day when we measure bandwidth in gigabits per second, and megabits are entirely irrelevant in day to day discussion. Will I live to see it? I very much believe so. All the providers will be bragging about their new leeto terrabit connections to the interwebs, etc. Heck, who knows if hosting providers will exist as we know them today in the future.
We just lit a dark fiber ring at *320 Gigabit* for mere 10's of thousands in DWDM gear. In 1999 I remember similar gear being quoted in the millions.
My point is: You will look back on your 'never' comment 10 years (or whenever) from now and cringe at wtf you were thinking
I know I've done it!
That said, as I mentioned I don't believe $1/Mbit will be sustainable in the near future. Current networking gear as you mentioned by itself is too expensive to do so. However, that is rapidly changing as you know. Just 3 years ago 10ge equipment was what, triple the price it is today?