The dynamics have changed somewhat. Mainly because ISPs became monopolies when dialup died. Remember Earthlink or Mindspring, Speakeasy? Or Netzero? Big old ISPs that nobody uses now because they were merged into global conglomerates or went out of business.
In the old days Netflix could say "hmm, we're an outbound only company with lots of cash and nobody will peer with us.. why don't we buy an eyeball company and balance our traffic so peering is fair"
Now there is nobody to buy, unless you want to buy some giant companies.. or get bought by one of them.
Also, ratio based peering was a model that made sense in the old days because it was the easiest way to determine fairness amongst multiple providers. Even in/out means you aren't stealing my eyeball customers and I'm not stealing your server customers right? Or at least we're stealing both in equal amounts?
Now that argument doesn't hold true when you're talking about Amazon or Google or Netflix, or Rackspace or anyone else doing cloud business. They aren't eyeballs and don't want your eyeball customers. Most of the time if you talk to them directly they'll peer based on your inbound traffic from them. The same applies to CDNs like Akamai or Cloudflare. Again, they aren't getting in the residential market and aren't your competitor so why not peer to ease congestion?
Ok, so big monopoly telcos that do both content and customers don't understand this, their arguments are pretty feeble.. "it costs big $$ to peer!" Well, run a dark fiber down the street and peer out of joes basement peering for $10/xconnect .. "but optic costs!!".. are cheap if you're doing 10gig MM or SM with no fancy wavelengths. "Port costs?" Same.. buy cheaper gear.
The only question is if netflix and friends end up flinching and paying to connect to AT&T and Comcast, then nothing will change.