At some point, someone will probably sue -- after getting cutoff by this new policy or receive significant fines -- on the grounds this does constitute a conflict of interest on the part of the internet provider.
In the ideal world, we'd allow for competition across the board and remove the monopolies through the introduction of new options. Those options could make a major dent by positioning themselves solely as pipe providers. In turn, this would put market pressure on the conglomerates to either compete or die, in the ideal world.
In the realistic world, the options would be to force the companies to split into wholly owned subsidiaries of a parent corporation. IE: Comcast Internet, Comcast TV / Comcast Content and they would not receive preferential treatment from one another. Also, remove the monopolies and change the current regulatory structure to create incentives for new ISPs to spring up and challenge the conglomerates.
Ideally, we would be able to solve this without having to involve the government bureaucracy which will end up creating more new rules and probably hurting as much as helping. Realistically, the only way people will go for is if there's a regulatory change.