The shock profit downgrade by TPG Telecom, one of the darlings of the market over the past seven years, is proof the profit bonanza in Australia's fixed-line broadband market is headed for a messy ending.

It has been a hell of a party for those involved in supplying retail broadband services over the past decade. Many multi-millionaires were created, including iiNet founder Michael Malone, internode founder Simon Hackett and M2 founder Vaughan Bowen.