I'll outline the scenario that worries me. Comcast sends all internet data as second-tier data, unless the content provider pays Comcast to provide it as first-tier data. The difference between the two is small, say one or two tenths of a second in delivery time. The end user doesn't notice a difference. But, as Google has found, the extra tenth of a second has huge impacts on conversion for websites. So, Comcast effectively offers the same experience to users, but now also holds a huge sword over the head of content provides. Effectively, it is in an excellent position to leverage its ISP monopoly to create a massive extortion racket to content providers. And the magical free market isn't going to push back against Comcast, because the experience for the end-user has not noticeably suffered.
It's quite possible that under such a system the internet could actually be free, because it's subsidized by corporate content provider partners, and charging the content consumers becomes obsolete, although I doubt Comcast would suddenly drop a revenue source. However, it also raises the barrier to entry for small content providers, because they don't have the spare cash to pay Comcast for non-sub-standard conversion rates. In a (weasel) word, it's less democratic. Not to mention, Comcast can sustain its monopoly on ISPs by giving even shittier third-tier access to its competitors. The end result is a less-free internet, Comcast enriching themselves by abusing a monopoly, and all of this done without Comcast delivering a higher-quality internet to users. I think I'll take my stupid pipes, please.
I agree with the author insofar as I accept that his conclusion is consistent with Objectivism, although it's still debatable if owning the wires means owning the data that goes through the wires. Fortunately for me, I'm a pragmatist, not an Objectivist, and I think the loss of property rights (if any!) is perfectly acceptable for the benefits to expression and communication.