Just to try and play devils advocate.
I can see why countries like Russia and China a not all that happy that the internet, which is becoming more and more integral to our society, is more or less fully under the control of the US. Some will say that it is because they want to censor all the "free speech" coming from out side their countries (and that may indeed be the case) but I would like to remind every one about the case with the British extradition. The US claimed that all .com domains where under their jurisdiction! A lot of Europeans where not to happy to hear that (those who heard it).
The internet is important to all of us and the thing we have right now is working fine, but let us not forget that it is pretty much in the firm control if the US. And while I do not, currently, have any reason to fear this situation it is not something we should take for granted.
THAT SAID!
This does not look like the best solution. Then again the UN, while it is almost nothing but and inefficient bureaucracy with little power to enforce its few decisions, is still our best bet so far for making any truly international agreement.