Are we happy with mega-corps providing our wifi service? Our bluetooth service? These are also using limited rival resources. Under an auction system, we'd be paying rent on this spectrum (through expensive closed devices, or time-limited licensed systems) to guarantee non-interference.

I personally would be less than pleased to have to pay extra on an ongoing basis just to have a wifi router in my home, or a wifi radio on my laptop. Extending private property rights into what is currently a commons would seem to imply that though.