This is a common misunderstanding I see repeated a lot. The idea isn't unshackling big corporations, it's about unshackling small to medium sized businesses and entrepreneurs. Big corps actually love regulations for the barriers to entry they create, and most of them already have a whole host of regulatory compliance teams armed and ready to dissect the next big regulation that comes.

> Americans get stuck with slow and expensive service that becomes relatively worse comparing to other western countries.

Internet speeds in most suburban, and urban locations in the US have dramatically increased as of late due to increased threat of competition (namely Google Fiber, which prompted AT&T to start heavily developing Fiber, which prompted the Spectrums of the world to increase speeds) and could be further accelerated by deregulation. Regulations are actually the primary reason that keeps cable companies in their monopolistic/oligarlistic positions.

As far as I am aware, the only western countries that have surpassed the US in internet speeds and stability for the majority of its populace are actually east, in countries like S.Korea and Japan.

Interestingly enough, Japan is mostly voluntarily self regulated.