Perhaps the real issue is simply this. VoIP isn't the reinvention of the telephone which we all foresaw five years ago. At least, not the VoIP peddled by the likes of Vonage. It's ordinary telephone service… delivered on IP. While popular, it has failed to deliver the revolution industry types envisioned. "Innovations" like web-based dashboards are long in the tooth, and the truly revolutionary applications which could have been delivered have never seen the light of day.
I agree with Alec, and I think I know the reason for the lack of innovation: education and habituation. Even if you have the world's best telephone service, if people don't know about it, they won't use it. And even if they DO know the service exists, habits are hard to change. That's why Iotum is my bell-weather... the canary in the coal mine, as it were. To me, the Iotum applications are super valuable. If these guys don't make it, it's hard to see how anyone in the carrier services market will.