Sure it can be improved but that's already happening. It's called market demand. ISP's are all happy to provide the service if they can get paid for it without the gubmit telling them what to do and how to do it.
That is where you are wrong. It's the ISPs who want to slow down communications between their customers and the content providers. It's the ISPs who are truing to extort content providers so that the content provider's info is not shunted off to the Siberian path to the end user. It's the ISPs who are looking to lock out services like netflix and hulu so they can sell a crappier home grown version.
You are on the right track, saying that the system today works just fine. But it's the ISPs who are eagerly pushing through legislation to allow them to RUIN the internet as we know it, to fleece their customers to unimaginable levels. Yet most folks here fighting for the telcos have no clue that this is the desired outcome of the telcos/ISPs. People are actively fighting for the telco's right to ruin their internet experience. It's mind bogglingly absurd.