Shockingly, I'm gonna take the opposite role. I think it is a GOOD thing. This goes no further than the president already has the power to do. Technically through the FCC rules 10thousand-something and 11thousand-something the president has the power to, in an emergency take over and or shut down all communications within the country. This would just update that to include the ability to shut down portions like the publicly facing side while leaving infrastructure available for use. The web sites we use are only a portion of the usable internet. There are secure functions which go on far more often than just bidding on a sports jersey on eBay. The ability to shut down the public side to prevent attacks on financial institutions and ATM networks is a positive thing.
I mean really, the president already has access to NUCLEAR WEAPONS!! Is access to shutting down the internet really worse than that?
"I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." Thomas Jefferson