Metered internet would only work if there was a very, very low base rate. Around here, the minimum internet package with Time Warner is $55 per month. Maybe a $10 base rate with one gig transfer included per month.
If heavy users have to pay more, light users should pay far less. With metered rates, everyone should have access to the highest speed service as well.
... but the bandwidth caps are really about shutting down competition with online video sources. Why should people buy video through TW’s overpriced cable operations when they can get it free or cheap online?
That's the other issue. As long as there are monopoly franchises, the cable business doesn't operate by free-market rules. Either competition or regulation is needed -- the former would generally work better, but the latter is better than a government-enforced monopoly that can screw over customers at will without recourse.