The rationalization I've heard is something along the lines of "anything that the free-market is a better regulator than the gov't; gov't regulation reduces competition and creates monopolies like those that exist in the ISP biz today". Please don't shoot the messenger. :)
The point also includes that Facebook and Google which are effective duopoly of on-line advertisements are not restricted but the owners of the pipes are. It also includes interpretation of FCC's core mission and how expansive the powers of application are.
I am more worried about advertising duopoly than ISP eating my data. If you have smart phone, you have pretty much given a heck lot of privacy, including where you go etc. Your android phone sucks so much data about your spatial movement, it can predict when you got sick or about to get sick.
The problem with this comparison is that, while it's not remotely easy, it's far easier to compete with Facebook or Google than to compete with an ISP.
Facebook barely existed 10 years ago. And it wasn't until maybe the last five years that it was recognized as a competitor to Google.
Just because the FCC is 15 years behind the times on this doesn't make it a bad idea.
Google, Facebook, and advertising networks with over a certain percentage of the market should absolutely be subject to privacy regulation as well (and likely will be in another 15 years).
