I think you are looking at this from the wrong angle;
First of all this only applies to USA persons.
The EU data privacy laws restrict this (I think).
The biggest problem would be the possibility of a ISP building a profile of you interests and selling it to private industry to be used for
surreptitious purposes.
As in being used to deny you employment, insurance or business relationships (banking as an example) based the information that may now be gathered. The FCC is assuming that the information will be benign to our personal interests and they are full of shit.