E-commerce and cloud-computing giant Amazon (AMZN 3.43%) is adding a new perk for Prime members: access to a $25 monthly wireless plan. Amazon is partnering with Boost Infinite, a subsidiary of DISH Network (DISH), to bring that company's unlimited wireless plan to Prime.

At first glance, this may seem like bad news for wireless incumbents like AT&T (T 1.02%) and Verizon. DISH is working on building out its own wireless network, and getting Amazon in its corner could drive customers away from the major wireless carriers. Standard wireless plans bought directly through AT&T and Verizon can be far pricier than what Amazon and Boost Infinite will offer Prime members.

Digging deeper, though, it's clear that this partnership is unlikely to change anything about the wireless industry.

About Boost Infinite

First things first: Boost Infinite doesn't exclusively use DISH's wireless network. The reason is that DISH's network isn't up to par with those of AT&T, Verizon, or T-Mobile.

DISH has been pouring cash into building out its network but is still nowhere close to being a viable alternative. DISH claims that its 5G network now covers just 70% of the U.S. population.

Boost Infinite, along with DISH's other wireless brands, uses AT&T and T-Mobile to provide coverage. DISH's own network may eventually be able to fully take over, but that's unlikely to happen anytime soon, given the incredible capital costs required to build a nationwide wireless network.

Another thing to note is that the Amazon Prime deal is nothing special. While Amazon will offer a $5 discount on the purchase of a Boost Infinite SIM kit and $25 off the first bill, the same $25 monthly offer has been available directly from Boost Infinite since the service launched.

There are also many other mobile virtual network operators, or MVNOs, that work the same way as Boost Infinite by buying network access in bulk and reselling it. Prices for these services are comparable to Boost Infinite, and are often less if customers choose a non-unlimited plan

The major carriers also operate MVNOs of their own. AT&T owns Cricket, Verizon owns Visible , and T-Mobile recently agreed to acquire Mint Mobile. Inexpensive wireless plans are a dime a dozen.

DISH currently has about 7.9 million wireless subscribers across its brands, but this number has been steadily declining for the past couple of years. Two years ago, the company had 8.9 million subscribers.

Churn is extremely high, consistently over 4%. By comparison, AT&T's postpaid phone churn was 0.79% in the second quarter and prepaid phone churn was 2.5%.

All of this points to the Amazon-DISH partnership as a nonissue for the major wireless carriers.

Buy AT&T stock

Amazon doesn't appear to be a threat to the major wireless carriers, although there are some real challenges facing the industry. For one, the U.S. Justice Department and the Environmental Protection Agency are investigating potential health and environmental risks from lead-covered cables owned by AT&T and Verizon. There's a lot of uncertainty right now, but either company could ultimately end up on the hook for mitigation.

Despite that risk, AT&T, in particular, looks like a solid long-term investment. The stock trades for less than 7x free-cash-flow guidance, and the company has been consistently gaining wireless subscribers. The Amazon-DISH partnership is unlikely to have any meaningful impact on AT&T's performance.