From The Official Google Blog:

[...] we decided to partner with a major broadband provider on the best policy solution we could devise together. We’re not saying this solution is perfect, but we believe that a proposal that locks in key enforceable protections for consumers is preferable to no protection at all.

I don’t know. I still think the US was better off before. Google may not be selling out, but it sure looks like they’re copping out.