It's not flawed at all.This argument is flawed though. Wasted / "cost more" compared to what? You not going to seriously argue that Labor's original budget was remotely accurate. They didn't even consult the industry when they came up with their costing, they literally pulled it out of their arse.
Given the current network will need a rebuild, they have wasted money. There is NO argument for the LNP's NBN. None, so don't even bother with supporting your Bible bashers on this one.