The FCC just voted 3-2 along party lines to dismantle the set of protections that go by the shorthand “net neutrality,” and it’s bad news for consumers, media-lovers, and small internet businesses alike.

Completely reversing all of net neutrality is a huge departure from what consumers are used to, and in the long run the consequences could be absolutely disastrous. But there’s a lot of confusion and a lack of clarity about how the demise of net neutrality will happen and hurt individuals.

Although the Commission just voted to kill the rules, the internet won’t immediately be split into tiered bundles today or even this year. If it net neutrality does end up doomed, the reality of “how” is slower, more complicated, and more insidious than that. But the good news is, it still may not be doomed at all. Here’s the reality of whether we’ll get there,...