It seems to me that Verison's problem is on the marketing side. Their technical implementation is correct.
This is basic QoS. For a simplified example, let's assume there are only two users (but the network is still congested). One is trying to download a fix amount of data, i.e. watch a certain number of YouTube videos. Let's call her the "limited" user. The other is trying to download as many linux-distribution isos as she possibly can. Let's call her the "unlimited" user. (We assume that the carrier can guess which user is which, based in historical bandwidth use.)
If the carrier throttles both users equally - what some would consider the "fair" solution - then the limited user will have to wait while her videos buffer (but we will assume that she still watches the number of videos that she had decided on). The amount of data that the unlimited user can download equals total network capacity minus the size of the YouTube videos.
If the carrier only throttles the unlimited user, then the limited user gets a better experience, but still watches the same number of videos, i.e. downloads the same amount of data during the period of the congestion. The amount of data that the unlimited user can download still equals total network capacity minus the size of the videos, so she doesn't actually get any negative effect from the "unfair" throttling.
(The above reasoning holds even if the unlimited user is also watching video, if we assume that she has a large enough buffer. But if both users are doing video conferencing, then it would be better to throttle both equally.)
Of course, the best solution would be to upgrade the network to 4G, and this is what the FCC should force the providers to do.