It would not be the death of the Internet as we know it, you will still be able to access most of the websites for free. However, it would be a birth of a new, much more monetized internet, where you must pay extra for many services we are getting for free. Also you may not be able to access some of the websites or services at the internet provider service discretion, as they "do not support that content".
Video access services would suffer the most if the internet neutrality would be lost. Net neutrality main goal is about preventing the ISPs favor some video streams while they deny access to other. Cable companies that have flourished in the 90s, are now craving to make a combination of video distribution and broadband Internet connection services, that will provides additional opportunities and incentives for cross-subsidizing between the different services that they bundle. Long story short, they want to make more money.
Much like water or electricity distribution, internet needs to be regulated and operated by a neutral entity, which will enable all other media services to be delivered through this platform on competitive terms and affordable prices toward end user. Video streaming is the most relevant as it requires a lot of bandwidth, so it is one of the things around which the cable internet providers have a conflict of interest.
In a event that there is no neutrality, you can expect some services to work much better than others, depending who is your internet provider.
The neutrality situation today, is much similar to the issue of telephone line in the 50s.
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