Professor Lessig's is "hot dogging" in calling for spectrum deregulation

I had to flag Professor Lessig's curious February 14th  post and video lecture on "Internet Policy -- Spectrum Deregulation."

• Professor Lessig makes the case for NOT selling valuable spectrum to the highest bidder (like the law requires to lessen the budget deficit and reward taxpayers) and argues that our government should "set off large swaths of spectrum for unlicensed use."
• Professor Lessig very curiously tries to use "hot dog rights" as an analogy to make his cerebral point:
• "Imagine the government nationalized the hotdog market, and then sold to the highest bidder the “right to sell hotdogsâ€? at in a particular place for a particular period of time. These rights — the right to sell hotdogs — could be structured to be a kind of property. The market would thus allocate them to the highest valued use. And the initial sale would raise lots of money for the federal treasury. Are you in favor of that? And if not, then why are you in favor of spectrum auctions?"
• Excuse me Professor Lessig. I have my hand up in the back with a puzzled look on my face. I am in favor of analogies that make some sense.
• What do "hot dogs" have to do wth spectrum?
• Are hot dogs able to be used to communicate, to broadcast, or to access the Internet?
• Would businesses pay billions for the right to sell hot dogs when they could sell other food?
• Could you not sell other food or services, if you did not have the national rights to sell hot dogs?
• Would Congress and a regulatory body care to sell rights to sell hot dogs?
• Can you put catsup, mustard, chili, cheese or onions on spectrum?

I'm sorry but I have been racking my brain to "imagine the government nationalized the hot dog market" like Professor Lessig asked me to. I could only think of Chavez in Venezuela.  As hard as I tried, I couldn't seem to "get" the Professor's "hot dog" analogy.

• I wonder if any of Professor Lessig's students could help him come up with a better and more "analogous" analogy for spectrum rights than "hot dog rights."

Maybe when advising the government forgo billions of dollars in needed revenue and you advise advantaging some buisness models over others, it would be helpful to have an analogy that makes a point.