It's not really that complicated
All the Telecom companies want to do is try to build some Toll Roads. You pay more to use them, but they get you where you want to go faster. There's still plenty of regular roads for everybody to use, but they don't go as fast. Do they take resources away from public roads? Some, but this isn't like a private school / public school thing. You still get everything that was there before, but now there's something faster if you can afford it. If it works it'll pay for itself and nothing else will change.
Most of the Telecom companies have been very clear that they have no ability to regulate usage at the level the doomsayers are predicting, not that it would really help them. They *want* you to surf more. Why block or slow up the sites people like? That'll only make them come back less often.
What's likely to happen is that much like Cell phone companies, they'll fight over who gets the most customers by trying to attract people to new and exciting phones, or in this metaphor, dedicated connections to their favorite sites.
One thing I can tell you, is that without something like this, internet TV will never truly happen.