(Side note: one more good reason for Netflix to be in the content creation game)
Netflix gets to pay whatever rate to get priority infrastructure at the telco, you get to pay more to Netflix, and you blame Netflix (not the telco) if the content delivery is botched / not as good as what your "cable subscription over the Internet" delivery is.
That doesn't line up perfectly with the narrative about fast lanes that we were sold, but it does show some of the power being wielded by the telco today as more than just a dumb pipe, and how they leverage their position against competitors.