Yes, and that is what this is all about.
Once the FCC can regulate the internet, I foresee they can declare various forms of speech 'obscene' and ban it from the internet. Additionally, I foresee them requiring internet licenses (taxed, of course) to post on the internet, with your license being pulled for violations of speech code.
Anything that can vaguely be construed as anti-gay, anti-Islamic, or disparaging of any liberal politician, would be clear violations.
I guaran-damn-tee you this is where we are going, probably within 2-4 years.
Well the FCC already has SOME control over the internet. Net Neutrality is a pretty complex issue compared to how most people paint it.