Just found this great article that tries to explain the Internet. It should be required reading for anyone who even thinks of regulating the net.
A world of ends
All we need to do is pay attention to what the Internet really is. It’s not hard. The Net isn’t rocket science. It isn’t even 6th grade science fair, when you get right down to it. We can end the tragedy of Repetitive Mistake Syndrome in our lifetimes — and save a few trillion dollars’ worth of dumb decisions — if we can just remember one simple fact: the Net is a world of ends. You’re at one end, and everybody and everything else are at the other ends.
Sure, that’s a feel-good statement about everyone having value on the Net, etc. But it’s also the basic rock-solid fact about the Net’s technical architecture. And the Internet’s value is founded in its technical architecture.