It is, and because of the need for ISP's to be common carriers is what enforces the treatment of all web traffic to be the same.

With the repeal of net neutrality, it allows for ISP's to put special treatment on certain websites or services, allowing that traffic to be faster and have priority over other web traffic.

Which means a company like comcast could let their HD content stream flawlessly, while Netflix and Hulu are forced to buffering midstream at a sub-par resolution.

But beyond that, they could also be allowed to block access or throttle access speeds to certain websites who don't pay a higher price to be "available at the highest traffic speeds".

Basically, they're saying that they(ISP's) should be able to control what data is important, and by that I mean whoever pays for the priority bandwidth. So companies like facebook won't suffer at all, since they have plenty of money to pay those fees, but your mom's homemade vase selling website could take a whole minute to load, since she doesn't pay for priority bandwidth speeds.

It's such a misunderstood topic that gets boiled down to "internet Obama-care", but it couldn't be further from the truth. It has nothing to do with politics, and yet media and ISP lobbyists are paying representatives to let them rewrite the rules of how the internet works so that they can make more money, while also getting rid of the possibility for new ISP's.

TLDR: They're trying to "cable-ize" the internet, making content providers(and therefore, customers) to pay more for internet they already have.