Vint Cerf, co-creator of the Internet, (for real not like Al Gore or Brian Williams) is now a VP at Google. Even though Google backs this, Vint had reservations and expressed them in a letter to the FCC.
That said, the companies backing this aren't doing it to protect the consumer, what they're doing is protecting their own content from the ISPs (ATT & Verizon). Facebook, Yahoo, Google, et.al, are trying to protect their own bottom line from the ISPs charging THEM more.
Putting a neat name on this "net neutrality" gets all the "lets-play-fair" people all warm and fuzzy, but it's not unlike rent control, or any other meddling by bureaucrats in business's business. It will backfire with unintended consequences.