We're already seeing that Western countries too can be just as censorship happy (e.g. the UK where the government pressures ISPs, and is seeking to enshrine in law, the blocking of a huge assortment of content including such ridiculous things to block as female ejaculation)
Just imagine how easy and unescapable that censorship will be if the government is the ISP itself. We've seen repeated attempts in congress to illegalize encryption the government cannot easily break. District Attorney General Rod Rosenstein hinted just this very month that in wake of the Texas shooting the Trump administration will take a harder line against "unbreakable encryption."
Just imagine how stronger their effort against encryption will be once it's the only thing standing between them and completely blocking your access to information they'd rather you not have?
Let's just settle for net neutrality and incentivizing new cable lines and ISPs, rather than open the "nationalize the web" can of worms.