The idea was that the truth would come out and disseminate if the distribution channels weren't censored. It assumes everyone had a natural good faith search for truthful and accurate information.
The real idea here was that the internet would be a game changer. Not only would information be available immediately - but you could actually find it. When it became cheap to find "correct" information the idea was that would dominate. The implicit assumption was that people actually wanted correct, accurate and truthful information.
In practice it turns out people prefer information that validates their opinions, regardless of accuracy.
Quotes abound including Ben Franklin about how people will believe what they damn well want to. This isn't a new revelation by any means save for some technocrats that probably were too autistic to understand human nature.
On the otherhand Information wants to be free has always been able to make a non moralistic statement that is true without respect to human behavior. The cost of information is not due to anything human. The reason why this is still a powerful statement is that it makes it clear that outside of totalitarian control (from SOPA to real jackboot dictatorships) you can't control the dissemination of information even amongst the peasantry. Of course if this information is news.. it could be garbage.. and often is.
You need to look at who the original people using the internet were. Generally speaking they were the students of research Universities who would be naturally inquisitive. Their bias for learning blinded them from the realities of most people who simply don't care. The truth has no direct use for them.
I also don't think seeking out validating information is the wrong choice for most people. If you weren't going to do anything with the information anyways you might as well get the endorphin rush validation brings.