Personally, I would not trust any system that relies on the good behavior of large ISPs. They have simply not earned my trust. If there isn’t some sort of actual check on their power, we can assume they’re going to behave like monopolies (because that’s what they are in most places), and instantly start rent seeking whenever they feel like they can get away with it.
Back in the old dial up days I might have gone along with this argument because common carrier status and a relatively low cost of entry meant that there was a huge number of competing ISPs keeping each other in check, but the broadband era killed that. Only DSL offers even the chance of competition, and DSL is fading fast.
