You need to be frank, and discuss the positive and negative events that may happen to the industry. It is true that the FCC could put independent ISPs out of business overnight, although it is unlikely. It is your responsibility to lay out in your business plan the risk factors. Industry Competition is the second section of the Industry Analysis. In this section, you analyze the direct and indirect competitors that you have.
Direct competitors are easy.
You have local, regional, and national competitors. Indirect competitors are harder and require a bit more thinking. Indirect competitors are services or things your users may use to completely stop using your type of Internet access. This could be wireless, cable, or dsl access which you may or may not be able to compete with at any level. This model is a misnomer and deceives users as they do not truly have 'unlimited access'.