The thing is, "net neutrality" arguments are not really about peering agreements. They are a consequence of a deeper, unfortunate reality: anyone who uses a packet-switched network to emulate a circuit-switched one is in a state of sin. Streaming applications like to pretend that they have a dedicated circuit connection to their peer, whether that peer is a centralized service like Netflix (or their CDN provider), or another end user's cable box or handset. That's not the case, but we have to maintain the fiction that it is, and treat packets that are part of a Netflix stream just the same as transient ones to or from Twitter.

Just how to preserve this unnatural state of affairs is what is being debated. If we don't understand this fact -- if we create laws or technical standards that favor one type of packet over another -- we risk foreclosing all sorts of interesting and valuable applications in the future that no one has even imagined yet.

So no, I don't think it's a good idea to promulgate standards that work well with transient messages and datagrams but not streams. If that's true of LTE Direct (and I'm not familiar with the spec, so I don't know if it is), then that's a problem. We've already baked that behavior into the architecture of the Internet itself, and it's only going to become a bigger issue as time goes on.