Without network neutrality regulations in place, the cable companies will do to online video what the phone companies want to do to VoIP: abuse their position as a provider in an oligopolic marketplace to force the consumer to use their service or none at all.
The Internet provides the consumer with a tremendous number of additional choices, but without network neutrality, the ISPs will do everything in their power to maintain the status quo and prevent competitors from entering the market.
I just don't see how the "FCC bureaucrats suck" argument against network neutrality could possibly hold a candle to the threat of losing our big chance at a truly competitive marketplace in telecommunications and entertainment.