This is a classic case of Orwellian double-talk. In this case, "Freedom is slavery."
Net Neutrality has been the norm up until now. It plain language it means all users have equal access to the available bandwidth.
Opponents of net neutrality are the major corporations who want a system set up where they can obtain favorable handling. An example would be that ABC's website blasts onto your computer at top speed while alternative sites like whatreallyhappened are slowed down by a corresponding amount. For those corporations whose job it is to tell Americans what to think, this would be a Godsend, as a free and open and neutral net has allowed the full exposure of spin and lies over the last quarter century!
There is no question that the media corporations want to turn the internet into just another TV network, albeit with a few more buttons, but the goal is to erase public discourse and replace it with a Hulu-fest of delivered media product intermixed with the usual interminable advertisements. Net neutrality gets in the way of that.
Hence, following the FCC's announcement that net neutrality will be the policy (based on the already existing common carrier rules), those interests both government and corporate that wanted an internet biased in their favor are pulling out all the stops to claim that equal access is somehow a bad thing, indeed a "Threat to Democracy" as Obama put it.