I think this one is much easier to look at if I restate the choice:

"A single individual billionaire who has only his self interest in mind has control over the internet "

vs.

"An organization consisting of more than one person, who are voted to power, who must hold their own interests in mind as well as their doners at minimum"

Personally, even if it's a whole bunch of different billionaires fighting for power, the government ultimately has to answer to more than one person. That makes it an inherently better choice.