Actually, given that the Fed's main purpose these days seems to be to inflate bubbles, I'd be happier if they chose a fiber rollout to everyone as their target bubble instead of current targets of banks & house values. At least at the end of the day my quality of life might improve in a small way, and our infrastructure would get a boost.
Similarly, I would have been happier if the Fed has decided to funnel all that money into our physical transport infrastructure.
The devil is in the details though. The big players have proven that they are perfectly willing to pocket money to build out infrastructure and then not do it. The money should have appropriate strings attached.