Here is the problem, @
FoolKiller, while Francis may be blowing things out of proportion (and I have something to say on his video as well), the problem is that ISPs can now double dip on content. Let's say that your ISP is ATT (one of the big opponents of net neutrality). You are facing a 20 GB data cap. Now let's say that you are surfing GTP, and all of the sudden you are eating data that you may not be even aware of for the the low low price of a mediocre connection of 4 mbps and $50. ATT then turns around and says, "hey webmaster of GTP, I notice that your site gets a lot of traffic. So for the price of $500 a month, we will maintain the status quo, but even better, if you pay us $200 more per month, we will not count your site against our data cap and get the best speed possible for our costumers." That is a whopping $700 a month, in addition to ISP server fees! Where is the costs ultimately going to go? That's right, the end user. The problem that I have with this ruling is more economical more than anything.
Yes, this is a risk. But here is the problem for ISPs; they have to answer to someone. The technology and regulations exist for multiple ISPs to exist in one place. Few local municipalities have allowed this to happen as of yet. But assume AT&T does cap data and starts making it hard for local businesses to run a Web site. Do you think local politicians or politically appointed commissions will let them carry on? AT&T only has local services because the city/town lets them, and the town leaders only serve by being elected.
To see the path this stuff takes you only have to look at phones. The moment AT&T's (government created) monopoly was ended the business model changed. Over 20 years it went from everything you do costs a lot, then dirt cheap local calls, then larger local calling areas, then cheap long distance fees, to now where many people I know don't pay per minute long distance fees. Cellular phones were similar. What I pay for data, text, and voice costs about what voice alone used to cost. Every company offers a different approach. They have to. They are one startup away from losing their business.
Do I expect a few early shenanigans? Yep. Do I expect it to last? No. These companies border on competing with mobile data now. They have to worry about local startups, other companies, and losing their other businesses. There will be more lawsuits to come, and even the FCC still retains the ability to create consumer protection rules. Then there is the nuclear option: Congress could reclassify broadband as common carrier.
All this ruling says is the FCC overstepped their authority because broadband does not have common carrier status. The FCC is given authority by Congress. Nearly every industry that has that threat over their head self-regulates before testing market forces, even when it isn't necessary to meet consumer demand.
Also, don't forget, these ISPs will be screwing over other big companies. You think Google wants to pay for premium access? You think other companies will quietly allow their profits to be siphoned? Better yet, what happens when a lower profit site with large clout, like Wikipedia, gets involved?
There are too many variables at play for this to be the end of the Internet. In fact, if ISPs aren't careful they run the risk of being minimized.