A Qualcomm presentation from not too long back:
Then I came across this interesting discussion on Twitter and a blog post by Dean Bubley in Disruptive Wireless blog.
Overcapacity has been summarised in few words as: Overcooked forecasts + WiFi offload + optimisation + LTE + more spectrum + caps/tiers + well-designed apps
In the blog post Dean's mentioned about the falling data usage that has been reported by O2. I would strongly recommend reading it.
From the network point of view, I think overcapacity is better for the time being as we are prepared for the short term future. In the long run, new devices and innovative apps may suddenly start driving up the data demand again and hopefully by that time we have sorted out some more of the capacity crunch issues.
What do you think?