My opinions only, I have no facts to back this up. My first impressions only are stated below.
Sounds like it's going to be a commercialized internet that is free to browse, with free bandwidth, even possibly free devices to access it too, paid for by the stakeholders who advertise on it, and own parts of it.
They're creating a new bar and setting it high, and then want only the insiders to profit from it in the end.
So when the smoke clears they probably think:
1) We'll own all of the firmware and software on internet.org devices
2) People (2/3 of the non-connected world) will walk around with our devices, basically creating our own meshnet for connectivity
3) Since we own all the intellectual rights of this new meshnet, we can advertise on it for free. We can rent out our customer base (and their eyeballs) for free for advertising and marketing purposes
4) Once we get massive adoption rates since there is ZERO cost to entry for any person in a 3rd world country to get connected, we'll soon be in control of the largest internet.org internet anywhere.
5) In the end, govt gets what they want because now they have a centralized body who controls the switches. They can ask internet.org turn on and turn off who they want, when they want.
6) We (zuckerberg team) get we want. We'll all be rich beyond belief if this works. Bill Gates will lick our boots.
7) and the world's population will think they're getting what they want. Free internet, and free devices? What more could we want? I don't need privacy when I'm a sheep herder a 3rd world country.
In 5 to 10 years time, don't forget an evil laugh, and references to "Mini Me" and "Dr. Evil"