The explanation sounds okay...
That is, if you don't actually let your brain function while "Seth" talks. The fact that AT&T conveniently left out of their explanation is that all that massive growth they've been seeing equates to massive growth in their monthly income. In other words, they had the resources, but they didn't plan well enough or spend enough of that massive gross income to actually provide the service all those people are paying $100 a month or more for. Their competitors in this country and all over the world somehow managed to do what AT&T didn't, and they try to make it sound like it's not AT&T's fault.
I can't speak for anyone else, but I don't find this video particularly satisfying or mollifying. In fact, to me, it looks like apologism of the worst sort. Don't make lame, after-the-fact excuses. Tell me when it's going to be better and say you're sorry for fucking up. Say you're sorry for taking gobs of cash from all of us each month and for not providing even halfway decent service much of the time.
Own up or don't bother talking. Don't tell us that by sending you all this money every month, we caused this problem. That's over-the-top ridiculous.
I don't put much faith in rumors, but I really do hope the ones about AT&T's exclusivity ending soon are true, because I'm about fed up with AT&T.