Is there a substantial economic effect of regulating the activity? Well, California might be its own enemy this time, but so is are the Federalist judges the GOP/Republicans prefer. As CA is too big to hide in the bushes, anything it does has likely substantial effect on the US - though it's easy to argue that ISPs are _very_ adept at adapting to local regulations, so they would simply configure their network devices this or that way depending where the subsribers are.

And of course Federalist judges are not exactly that consistent either.

So we shall see, but I sincerely don't see how this would affect interstate ISP markets substantially.