First, any argument made by AT&T or Verizon or Comcast is just a wee bit suspect given their clear biased position in these matters.
Title II, deals with the fact that monopoly status exists in certain markets and thus Title II is needed to regulate that monopoly.
How many natural gas pipelines do you want into your house? How many breaker panels for multiple electric companies providing you service?
These are natural monopolies where regulation is necessary to manage the market. More actual utilities are being moved to separate infrastructure companies and supply provider companies.
Wheeler's proposals don't go far enough, but they are a step towards the right solution.