It isn't about the bandwidth to your home, it's about the bandwidth further up the line. It doesn't scale to infinity.
What if people have paid for that bandwidth though, dedicated lines, just not so massively oversubscribed or similar. I kind-of don't think this should be so blanket reduction of all the countries and all the regions, just like the Netflix reduction. It's easier and cheaper for them like this, but it really should be more intelligent.
Don't Youtube and Netflix already give free caching servers to any ISP with a significant amount of traffic?