In a perfect world, the FCC is right that we don't need it. However, once you remove the rose-colored glasses and realize that things aren't perfect, it's fairly apparent why we should have these rules.
The job of a business is to make money. A business decision can lose money, but as long as the company makes more than they lose, it's (technically) fine. That concept outlines how a corporation can implement consumer-unfriendly practices and get away with it. They may lose customers, which is a loss, but the money gained is enough to make up for it. In the case of ISPs, the lack of competition in areas combined with how the Internet has become even more necessary over time means that an ISP enjoys even greater consumer retention. Essentially, a customer cannot leave for another institution, as they either don't exist or are largely unfit for today's Internet landscape. (An example would be slow DSL solutions.)
Ultimately, what I'm trying to say is that these corporations are not working for you. As long as they continue to make money through their legal practices, as shady as they may seem, they'll continue to do it. You can't trust a business to also consider the consumer's interest, which is why we have consumer protection laws in various other areas. I get the feeling like some would consider these remarks as "an attack on Capitalism" or the "thoughts of a socialist", but I challenge those people to prove it wrong.
I remember the issue between Comcast and Netflix a few years ago quite vividly. I had both services at the time, and what I think some don't realize is that the feud affected FAR more than just Netflix streaming. Any traffic that routed through that same overloaded hub saw serious slowdowns, and it made the Internet far less usable during the evening time. I remember the day they cleared it up, and it felt like I could actually use the Internet again! Did Comcast care that a modest portion of my Internet usage suffered due to their dispute? No. We don't even need to get into how ridiculous Comcast's position was back then either.