Provider already has that freedom. But once I buy my bandwidth for what ever price the telco is selling, net neutrality guarantees that every packet of information I send is routed all the way to its destination as equal with anybody else's (i.e. telco's are neutral and don't prefer anyone's packets).

But without net neutrality, your provider may decide they don't like your packets going to Youtube esp. since they are also selling TV cable service. So they are now allowed to slow down your traffic to Youtube.