Do NOT be fooled. An explicit ban on paid prioritization is the only way to preserve the system we have today. If you allow paid prioritization, there will no longer be a "vibrant" tech sector (as we think of it today) in the US. If you
only ban paid prioritization, ISPs will continue to hold monopolies, price-fix, offer inferior service, not invest in their infrastructure, and fuck over their customers with fraudulent charges. But, hey, Netflix will stay in business, so all's well, right?!
The goal with this move is to AVOID common carriers and AVOID competition. Paid prioritization is a minor symptom of the problem that ISPs are not common carriers. I say this because without common carriers, if the only ISP has paid prioritization, a there is no competitor to switch to. Banning paid prioritization will do nothing to address the actual problems with American ISPs. Our cable lobbyists and therefore our government will do anything to avoid common carrier legislation being passed.
Common carriers would not be allowed to control the content on their wires at all -- they would be forced to let ISPs purchase bandwidth and compete on the same wire. Granting wire ownership and content control to one company is a natural monopoly: In almost every locale new ISPs cannot use the wires someone else owns, new ISPs cannot dig trenches for new wires, and new ISPs have no common wires to offer service on. Therefore, no new ISPs can form under normal conditions, and competition cannot exist. The only logical conclusion is that we are being denied a free market, on purpose.