1. Yet another step away from laws made by elected law makers. Over time, the accumulation of these can threaten democracies. (Of course, each one in isolation is "no big deal".)
2. Another cost of doing business for companies providing freebies. Another junior lawyer on the payroll.
3. A few bloggers will be singled out and ruined federal style, while the vast majority will skate on by living with the low but present risk of being among the unlucky hanging over there head.
My wife had lunch with a guy who works at the FCC on Saturday. You know what the big issue they are battling internally is? On Friday they banned accessing Hulu.com because so many people were streaming instead of working that it was killing the bandwidth for all. Is this who gets to tell society if a blogger is on the level or not? Why am I as a blog reader less trusted than an FCC/FTC/Any Other Agency employee?
I'm reading YCombinator at work because it pays to be educated and up to date. This is where the smart people are so this is what I read. I doubt watching "Glee" at work provides FCC employees the same benefit.