"A bit is a bit is a bit." - Proponents of net neutrality.
There is a lot to say about this, let's see if I can unpack it and lay it out in an order that makes sense.
1. All bits are NOT created equal. Tell me, do you think your Netflix (or whatever) streaming is less important, equally important or more important than the stream of video, audio and data whereby a surgeon on one continent can watch and control a robotic surgery machine on another continent to save a person's life? I hope you answered "less important," because if you didn't, you're at least bordering on being a selfish, narcissistic sociopath.
So, there must be "fast lanes," "priority traffic," whatever you want to call it. And in order to do that, the person who wants that fast lane has to pay more. The roads that comprise our highways are laid out, built differently and cost more than a road within city limits. At a basic level, the Internet is no different.
2. The FCC should not have the power to make these decisions. The Legislative Branch makes the laws, the Executive Branch enforces those laws. When the enforcer gets to write the laws (you can call them "rules," "regulations" or whatever), it doesn't end well for those subject to those rules. Would you like it if the county sheriff where you live directed his Deputies to start issuing tickets for having a license plate frame on your vehicle? The state government or county commission didn't pass a law saying that license plate frames are a traffic violation, he did it on his own. This is the local equivalent of what happens every time a government Executive Branch agency issues a "regulation."
I have zero problem with Congress passing legislation for or against Net Neutrality (actually I would, which I explain later) but if my Representative or Senator votes opposite of what I want him to vote on the issue, at least I can vote against him in the next election. As far as Tom Wheeler or Ajit Pai, the FCC chairmen when Net neutrality became a regulation or was repealed, what do you and I do to get them out of power if we think he's gone overboard? Not a damn thing. They are appointed bureaucrats who are not answerable to We The People.
3. What is the result of "Net Neutrality?" I can answer that question in two words: Government Control. History (and this blog) are full of examples where government control, no matter if the control are elected politicians or unelected bureaucrats, does not end well for We The People. All those Liberals who celebrated Obama weaponizing government agencies ("I have a pen and a phone") and controlling more and more of our lives have been scared shitless over the past year because Trump now has all that power. I personally don't want either of them, or for that matter anybody to have that level of control and power over me. The government gets its' power from the consent of the governed, and I most certainly do not consent to the government having this kind of power.
Capriciousness in the exercise of power, no matter how great or small the amount of power, is an integral part of every human being. It is better to not let government (which is made of fallible, capricious people) have that kind of power in the first place.
4. The best way to fix this is... Competition. There are two things inhibiting competition when it comes to Internet services: Capital outlay and monopolistic practices. It takes a lot of money to bring Cable or DSL lines to every building and home in a city. It costs a lot of money to buy the hundreds of miles of cable, the workers and trucks to hang and maintain those wires, plus rent from the local entity that owns the power poles that the cables hang on. The big companies (like Comcast) also make anti-competition contracts with a local government body to make sure only their cable can hang on the poles. For as expensive as it is to hang all that cable on a power pole, that cost is a drop in the bucket compared to running it underground.
I currently get my Internet from Comcast, because I don't do DSL. If Verizon or Google were to bring FIOS to my neighborhood, I'd change providers in less than 0.3 femtoseconds, if the prices were lower and/or the service is better and not throttled. So if Verizon FIOS does come to my house, Comcast has to meet or beat Verizon's prices and services in order to keep my business. It's either that or go out of business entirely.
In the end, I want to have the final say in who provides services to me. I don't have that choice if the government makes the choice for me. A government bureaucrat in Nashville or Washington does not and cannot know what I and my family want and need, along with my criteria to determine what I want and need. So why should I let them make those choices for me?