The document is loaded with contradictions and seems to call for more Internet regulation, according to their "7 questions" list.
#1 Is this a core function of the federal government?
#2 Does it execute Constitutionally defined duties?
#3 Does it protect Constitutionally defined rights?
#4 Does it protect property rights?
#5 Does it protect individual rights?
#6 If the federal government does not do this, will others?
#7 Will this policy or regulation allow the market to decide outcomes or will it distort the market for political ends?
#8 Is this policy or regulation clear and specific, with defined metrics and limitations?
In addition, he seems to be hinting at trying to ban voluntary use of copyleft, permissive licensing, and banning public domain status as much as he possibly can. He is calling voluntary contracts like GPL and CC "collectivism" which according to every libertarian figure is the exactopposite of collectivism.
Why regulate the Internet at all?
That should be the only question:
#1 Will it regulate the Internet?
I am extremely disappointed in the Pauls for having abandoning libertarianism in favor of statist regulation.