While I share the EFF's concerns about loopholes in any proposal, I have to give them some pushback on their criticisms of the "lawful content" provision. While it may be true that this part of the policy could be abused, this clause has to be in any proposal-- I can't imagine Google or Verizon's legal departments would sign off on anything different.
Having said that, the EFF's claim that "lawful content" is insufficiently vague does seem fair. (Although I'd argue that it is pretty self-explanatory as-is).
Overall, what makes this analysis different than so many other is its emphasis on giving Google/Verizon clear suggestions on how to make their proposal better, rather than simply decrying its very existence.