Data can generally travel the speed of light unless networks are congested. When there's congestion, usually the cheapest and best thing is simply to add capacity generally, not to prioritize certain sites over others.
I'm all in favor of the FTC investigating companies when it believes there is proper cause to do so. An investigation, however, can lead to political pressure to bring a case, even if such a case is unwarranted.
Default choices often remain unchanged for no reason other than being the default, either because of this lack of information or humans' status quo bias.
News seems to travel far more quickly on Twitter and Facebook than through search.
The FCC banned throttling for good reason, namely that Internet service providers should not bias their networks toward some applications or classes of applications. Biasing the network interferes with user choice, innovation, decisions of application makers, and the competitive marketplace.
Net neutrality is the idea that Internet service providers (ISPs) should treat all traffic that goes through their networks the same, not offering preferential treatment to some websites over others or charging some companies arbitrary fees to reach users.