Now it should be remembered that "sender pays" is a founding principle of internet video — video providers can’t use reciprocal free peering swaps to deliver low latency, high bandwidth traffic.
I don't agree with this. At some point NetFlix is attached to one of the big carriers (Level 3) and will be billed by them for the traffic based on the agreements they have with the other ISPs.
Net neutrality can only be about ISPs not privileging their own offerings over those of other companies. Customers should be prepared to may more for higher bandwidth, lower latency, better QoS, etc.
NetFlix and bandwidth costs are being used a strawman by vested interests when the main battle, as always, is about the price charged for content. Most countries in Europe have a pretty healthy VoD market with players like Watchever already well-established and the European Commission pushing to remove preferential, location-specific deals: content in Germany, France or the UK should not cost more (or less) than in Estonia.