I'm certainly not 'overlooking' it. I just don't find it particularly compelling of an argument. A business can certainly charge on both the downstream and upstream ends of their own network if they so choose. As long as they aren't operating in an anticompetitive fashion, of course.

And while Google is much less public about their special peering agreements and CDN setups, Netflix is pretty public, so let's talk about Netflix Open Connect. Netflix Open Connect boxes are hosted "at no charge to the ISP" at various ISPs, as if it's a charitable offering. https://openconnect.netflix.com/en/

But essentially, Open Connect boxes are colocated. If anyone but Netflix were to ask for free colocation, they'd get laughed right out of the room. A startup trying to compete with Netflix could never get what Netflix gets for free. Net neutrality effectively removes Comcast's negotiating power to demand Netflix pays for the service, because things like throttling their peering traffic isn't allowed. The irony is, in this instance, net neutrality is actually granting Netflix an exclusive advantage (by the nature of their size and customer demand for them) that smaller players can't hope to match.

Once again, net neutrality regulations help big monopolies and hurt smaller players.