And nobody will ever need more than 640K of memory, so the fact that even your cell phone carries vastly more than that must mean you yourself are up to no good, right?

Even if you're not dealing with a constant video stream, the power of the internet lies in moving vast amounts of data around. Yeah a lot of that information is based of corporate privacy invasion, but you also have things like medical databases or performing jobs remotely. I had gigabit routers in my home at a time when 10/100 routers were still typically used even in businesses. If you have a capability, someone will find a way to make use of it and new innovations will pop up that we hadn't even considered before. Imagine where we would be at if Xerox hadn't invented the mouse and GUI desktop years before personal home computers were even available.