A good (but long) explanation of the history and meaning of it all at this CNet article.

Also, More here at Wired.

You can expect that if the major internet providers (such as Verizon) now want to, services such as Netflix will become more expensive. Also, small ISP’s such as who serve rural areas — for instance mine — will have to charge more as the Verizons of the US charge them more.

The FCC might have meant well, but did it create the whole problem itself?