Net Neutrality is a bit more complex than all that
Which is why Google was neutral on the issue before its engineers forced its hand. There have been a couple of really good articles here on it.
Without net neutrality, the whip is in the hands of the ISPs. This is super bad if you don't have effective competition (like most of the US). Even the cell services have a *ahem* thumb on the scales.
With net neutrality, the "content" providers hold the whip. Which isn't so great over the long run if you want continuously improving infrastructure.
The really big "content" providers run their own networks out to all but the last mile. For them, the fight really is about contract negotiations for that last mile.
"When elephant mate, the grass gets trampled."
I slightly prefer net neutrality, because it makes new technologies easier to get a foothold.
As for what is going on with the Feds, Wheeler was just as bad as the current joker for violating process. This really is a matter for Congress. Of course, they are too busy pissing in each others' cereal to care about things like, well, just about anything else.