2. Level 3's assault method is to drop peering with Cogent, in
hopes this will force Cogent to purchase transit to them in some
fashion (does Level 3 have an inflated idea of their own worth?),
also forcing them to raise prices and hopefully (for Level 3)
returning some stability to the market.
I think I'd bet that if L3 depeered Cogent, the last place cogent
would go to buy transit to L3 would be L3.
I'm not making value judgements on anything that has happened - both