I'd argue that, to some extent, we're already seeing this many of T-Mobile's more pro-competition moves in the wireless telecom space, though it's also easy to argue that the FCC is more necessary there as wireless spectrum is a much more finite, common resource than fiber in the ground (theoretically, you could run an unlimited amount of it).
As an aside, of course, many see T-Mobile's moves as bad for net neutrality based on principle, despite the fact that they're actually good for the consumer today.[1] I might argue that those people are making the same argument you are about Rand Paul: that they're " just using semantics to try and wave away this pretty important issue".
[1] http://www.theverge.com/2014/6/18/5822996/t-mobile-music-fre...