Most of the Net Neutrality debate has struck me as really stupid. Wes Felter said it best:
Network Neutrality has collapsed into a black hole of strawmen and abstractions. It's not unusual to see such tactics, but when virtually all of the commentators on both (all?) sides are using them, you know the conversation is over.
Here's a pretty good summary of the libertarian position, as I see it:
In a competitive market, I would buy the telco and cableco arguments. [But] their sector is very strongly regulated. There is little competition outside of their comfy duopoly. Thus, if they're given the chance to sell high speed to some people, and low speed to others, what will really happen is that no extra bandwidth will be offered. Instead everyone will get the low speed unless they pay. This is the equivalent of "Nice website ya got there. You wouldn't want anything bad to happen to it, would ya?"
— Russ Nelson, the Angry Economist.