
It's what Buffalo and every other place cursed with Time Warner deserves. Basically, it's a fiber ISP that taps into all the existing private fiber networks that were built in the in the late 90's and 2000's (often with government money) and resells service to small business and residential customers. You can see a map of just Fibertech's network here

For just $100 install and $50 a month, Rochesterian (? had to look that denonym up) can get 100/20Mbps internet.
For just $250 a month, they can get 1Gbps down and 100Mbps up.
This is in the same service area as Time Warner, who charges a fucking outrageous $250 for 35/5Mbps at Allen Street, with the worst customer service I have ever seen. For fiber service in the city, Fibertech wants over $1000/month for any sort of connection plus huge install fees.
I feel like we're in a internet desert, with a fiber oasis in front of our house that we can't reach.
In other internet news, there is a group trying to start an free, hyper-local, open access wireless mesh network in Buffalo. (e:paul) says he dreamt of this 10 years ago. The group, called Buffalo Mesh, meets at the Foundry, where they already started to build out their network. I wish I had more time and knew more about networking so I could get involved.
Buffalo Mesh
Uhh, he was a lobbyist for the cable industry, including president of that organisation, which is a really important aspect to leave out. If you look at the general trend of lobbyists actions upon taking on or coming from a government role, there is a lot of reason to suspect his aims. The backlash against their initial loosening of restrictions is far more responsible for this rhetoric than Wheeler himself.
I also think you overestimate words. I don't think it's an accident that he is proposing this now that republicans have full control of the legislative and judicial branches. Much in the same way that Obama's rhetoric on taxing the rich in his most recent SOTU means nothing when it comes to actually accomplishing it with republicans in control of the legislature. Congress has already stated their intention to challenge the FCC on this matter.