The original proposal by Neelie Kroes from the previous Commission looked great. The new Commission ruined a good part of it.
That said, it still establishes some ground rules, which are good for the most part. I just wish there weren't so many exceptions to them, and I fear at least some of them will be abused. We'll have to see how it goes.
However, if Netflix, Spotify or Youtube manage to get that "specialized service" privilege, then we'll know the rules don't work and will have to be changed. Because right now that is NOT what the EU proposal is saying the new rules will allow to happen.
The clearly worst part from all of this seems to be the zero-rating, which I don't think should exist at all as it's too easy to abuse and too hard to contain with regulations if it exists at all. Plus, whatever regulations are put around it will probably help the big guys anyway.