What does this mean? Can anyone make it more simpler?
Just another government takeover, under the guise of doing it for our own good, claiming it will make it cheaper and/or better for everyone. The problem is, when the government does that, it usually gets worse instead of better. It becomes more expensive and/or decreases the supply. Then they blame it on something other than themselves so they can expand their own control to fix the problems they themselves created. It's like a cat chasing it's tail, and we're the losers.
You are either young or have a short memory. I can remember when there was basically only one telephone company and it was also the long distance carrier (all were owned by AT&T). The company advertised that they may be the only phone company in town but they didn't act like it; it was actually the opposite that was true. You weren't allowed to own your own phones—you had to rent them from the phone company and the choices were very limited—and you paid an extra charge for each extra phone you had. Even once the government forced the phone companies to allow people to own their own phones, they were limited to only four with additional charges for each additional phone (there was a cheat around that; just disable the ringers on the additional phones and pray you didn't get caught) until the government stepped in and removed that restriction.
It took the FCC and Congress to break up that massive monopoly, forming the so-called Baby
Bells, and get them to relax a lot of their restrictive rules that were preventing progress. Telephone rates gradually went down, service generally improved, restrictions on owning one's own phones were gradually eliminated, etc., a lot of that achieved by allowing competition to come in.
When I moved into my present home, over 20 years ago, there was one phone company, period. I now have a choice of two actual landline phone companies (I celebrated when I was able to tell the former Baby Bell to take a hike), far more if you include wireless and VOIP options (I'm now using Straight Talk's Home Connect service that uses the Verizon cellphone network). Instead of being limited to only four phones, the only limitation is dependent on the hardware one uses. All this is thanks to government regulation.
As I said before, I do not like government regulation because it generally tries to "fix what ain't broke". In this case, same as it was with the telephone company, the internet provider industry is "broke" and needs "fixin'" and, since there isn't enough competition to force the industry to clean up its own act, the government is having to step in and do it. I personally feel it is long overdue!