There's quite a bit of that I disagree with.
First: data is not, has never been, and can never be valuable..
data is information. stuff that is not information is noise.
. Information can be valuable, but only if it is relevant.
relevance is in the eye of the beholder. Take the money supply and public debt statistics. Are they relevant? To what? Tea party nutters ascribe a very different relevance to those numbers than Paul Krugman does. Since there is no objective measure of relevance all data must be created equal.
High bandwidth connectivity enhances our ability to exchange information... but this is a double-edged sword, in more ways than one. One problem is that information is destroyed once successfully conveyed - rather like transferring charge eliminates potential difference with electricity. Another problem is that relevant information is a weapon to establish or undermine a right... and technology doesn't care which. Yet another problem is that ever higher bandwidth links promote data transmissions that are ever less information rich.. and, eventually (maybe this has already happened) increased bandwidth simply results in less value, on average, in each communication.
Information is destroyed? I don't think so. A TV broadcast signal does not destroy the recording from which is was originated. In physics, information appears to be conserved - although there are ongoing arguments about whether information is destroyed by black holes and what happens at the cosmic horizon.
I agree with the diminishing return to communication though. To communicate means simply that two entities have more in common after a communication than before, and thus less need to communicate further in future, Higher speed comms simply diminish the total divergence between entities that might accumulate - the divergence could never be eliminated except with infinitely fast communication - a bit like you can't if you have mass actually attain the speed of light but can spend infinitely large amounts of effort trying. And there are advantages to the traveller in getting close to the speed of light - namely taking advantage of time dilation. I don't see why a similar principle can't hold for communication between entities.