As much as it might be able to read and decipher normal traffic, it won't be able to do so with encrypted traffic. It might know it's a bit torrent, but it won't be able to tell anything about it because the flow is encrypted. It might know it's an email, but it won't be able to read it because it's encrypted. It might come from www.youtube.com, but how can you tell if it's a navy marines advertisement, or a white-supremacist enlistment video. If everything's encrypted, then it's all just blind data, unless you have the keys... and no hardware can solve encrypted files at real time speeds.

I don't get Net Neutrality, on a different tangent.
Say I'm Google. I pay 10 billion a year for the network connections I use. From that, tey pay the connections they use.
So, now, why, should there be, on top of this, an added fee, so that I can have my data set at a higher priority than everyone else's? I'm paying for this service, why would it change, all the sudden? I pay to send x amount of data, through the system. Even if that data is more, I pay more, generally? Why on top of this would there suddenly be an extra priority tax, that really, should already be included. It looks like a money grab to me, and really has nothing to do with priority. Priority is for "priority traffic", like voice, or video-phone, or banking, or stuff that is fairly small, but requires to get sent fast.