No, it isn't metered usage. Friar proposed charging based on the actual capability of the line, not the actual use. This should be relatively easy to measure.
His analogy wasn't the best, as gas and electricity are metered based on actual use. But his proposal was essential to measure the capacity of your particular line, and bill for that. This could be done periodically, from either end (or both for validity checking). And it would have an upper bound (the currently advertised "up to" rate and its fee).