The internet as a unified network was done on American infrastructure, and everyone went along with it because the American government and telecoms were content to leave people alone to do their business as they saw fit.
The hysterics that Silicon Valley has shown and the fact that social media has blatantly been exposed as being a proxy arm of the American Intelligence Services, especially after the Arab Spring, has made a lot of people nervous.
We could very well see the internet fragment into segregated regional and national networks as a means of national security policy given how Silicon Valley is running amok.
I agree with everything in your post. I find the portion that I excerpted above prophetic. I believe that the internet will fragment and that blocks of countries will start forcing traffic between these country blocks to be restricted and filtered.
Some bad things, but also many good things could come out of decentralizing many areas of the web. Eg, google & twitter & FB finally either being split up in anti-Trust actions, and/or seeing the advent of thriving competitors to each of those monopolies.