Netflix is an easier example. I know that Comcast Xfinity, for example, already offers a bunch of video streaming on demand, and more if you buy their TV subscription in addition to internet. So they already have a partial competitor to Netflix and Hulu, with a big incentive to mess with connections to those companies so people will use theirs instead.
Telstra in Australia invests a phenomenal amount of money into "Stan" / this.
It wouldn't be good for Google, but this seems as likely as an ISP beating SpaceX to the moon. It's hard enough to get an ISP to provide internet service most of the time.