Earlier quoted context omitted.
What other benefits are there to being a "public telecommunication utility"?
The benefit that is obvious to the regulators is that you can charge money for services. So for example, offering telephone services requires being a LEC (local exchange carrier) or CLEC (competitive local exchange carrier). But even telephone services have become considerably unregulated through VoIP. It's just that at some point, the VoIP has to terminate/interface with a (C)LEC offering real dial tone and telephon…
https://www.intrado.com/life-safety/e911-regulations has a good overview and links to applicable CFR/rules.