Anyone who thought we'd actually get to the $86B reserve price was kidding themselves. Verizon and ATT have plenty of low band spectrum with 700Mhz and Cellular frequencies, they really don't NEED much more, they'll only bid if the price is low enough. Only the smaller carriers are going to be in the mood to buy, and Sprint has already said they aren't interested. They have so much spectrum, they need to focus on small cells and deployment. So that left TMUS, regional carriers, and maybe WISPs? They just don't have the big money to drive up the prices like the AWS auctions.
AWS was all about urban and suburban capacity. 600Mhz is actually terrible for that because it propagates too well and the antennas are so large it makes doing MIMO extremely difficult. Doing MIMO greater than 2x2 on Sub 1Ghz frequencies would require very bulky and heavy gear.