It's proponents define it thus: "...a network-neutrality regime. In its strictest form, such a regime would require every bit that travels over a network to be treated the same way." So far, so good. [excerpt]
No, thats not good.
It undermines capitalism and free enterprise.
The government needs to stop telling people how to run everything and let ISP's sell whatever kind of service they want.
Don't like how your ISP handles your BITs?
Get a different ISP.
Except under net-neutrality, all ISP's will be the same, so getting a different ISP will be pointless.
If all ISP's were forced to operate exactly the same, there would be no competition.
Innovations would be hampered by bureaucratic red tape.
In the end you would wind up with
one ISP, which would, naturally, be run by the government. (poorly of course)
Just look where bank-neutrality got us.
The banks were forced to give out loans to everyone equally, and now the economy is tanking.
The last thing we need is communist dictators who can't keep the government on an even keel telling us how to run our inventions.