As you can see from the video above, the Net Neutrality debate is nothing we haven't encountered before. As you may be able to tell from the style of the video, the "paid" vs "free" tv debate was more an issue of the 70's, but remains in discussion today. For the most part, the free vs paid debate was settled on ambiguous grounds, permitting providers the ability to charge customers for additional channels, but requiring they broadcast a handful a free basic channels to antennae and cable customers. The PBS we know today was largely borne from this issue, but has recently found itself threatened by closure.
"Pay TV" has survived and flourished despite the prevalence of "free TV" by innovating and pacing with competitors. Digital cable and satellite service providers are the most pervasive forms of pay TV, but recently, internet TV has stormed onto the market with Hulu and Netflix. Digital cable, satellite television, and internet television are all innovations as a results of competition. Once DirectTV began encroaching on the market majority with satellite television, Comcast, then AT&T, developed digital cable as a way of delivering hundreds of channels in order to compete.
The kind of regulation enacted upon the television industry didn't stifle progress, it ensured it. Net Neutrality, like free vs paid television, ensures that there is always room for a competitor, without penalizing market leaders. Without Net Neutrality, Comcast could stifle, or even altogether block, internet access to the websites of companies which compete with any of the hundreds of products under the NBC-Comcast umbrella, resulting in a sort of monopoly. Under Net Neutrality, however, Comcast, or any other Internet service provider, would be denied to the right to tamper with what data is sent and received on their networks, thus ensuring fair competition for companies. We know this system would work, because it already has. For example, NBC is owned by cable TV provider Comcast, but thanks to regulation, Comcast is forbidden from throttling or delaying any specific signals and NBC comes through as clear as any other network. As a result, we have a varied and, often, engaging world of television, with some exceptions.