If you want to regulate as a utility connecting homes to the nearest internet exchange point, for some definitions of nearest and internet exchange point, that'

If you want to regulate as a utility connecting homes to the nearest internet exchange point, for some definitions of nearest and internet exchange point, that's probably the limit of coherent regulation. Regulating the guys with the physical plant to be nothing more than a physical plant would be a massive improvement over where the US is today. The biggest problem today is that the guys with the physical plant have aspirations of doing more, and that gives them incentive to degrade quality of service for general internet access (which competes with their aspirations). Thus we get things like ~300GB/month bandwidth caps which are enough to impact a typical family of four trying to cut-the-cord and use alternatives like netflix.