Having started a small ISP...
Having been on the ground floor of starting a small, wireless ISP back in 2000, I can understand the desire to cut through some actually burdensome regulations. When I left the company in 2010 we had just under 6,000 subscribers (this is rural NE Minnesota, so this was a lot), so the order didn't affect us anyways. Still, we were very upfront about speeds and costs. Every installation was preceded by a bottom-line quote for equipment, etc, as well as a site survey/audit. There were no extra fees to activate wi-fi that the customer already had or other B.S. Costs that we had to pay towns and cities for franchise fees or rental space on water towers and so on were already included in the price. It was not a case of advertising $29.99 a month, then tacking on $15 in fees and surcharges on the actual bill. When we advertised $250 installation, and $30 a month for service, that was what you paid. It was no burden to be honest with the customer, even for an outfit as small as we were. In many cases where we did not expect there to be satisfactory service, we told the customer "hey, we advertised 4mb/s, but you might only see north of 1mb/s, still faster than dial-up, cheaper and less latency than satellite, but still $30 a month" and let them decide- there was no pressure. If we, with a staff of only about 10, many of us wearing multiple hats, could do this, I don't understand why a large company (with hundreds of thousands of subscribers, and perhaps hundreds or thousands of staff) could not also offer similar honesty.
That said, it is because of the underhanded way that these larger operations behaved that these regulations were put into place in the first place. If they were honest and upfront about the real costs of their service and the performance you could expect out of it, and other limitations (data caps, etc) it would not be an issue.
But, for much of our nation, it's a moot point: there is little by way of broadband competition in many areas, so there is no "informed choice" for a customer to make. You either get broadband through the local cable monopoly, or not.