Traffic shaping provides benefits to the vast majority of customers - ie those who would like to be able to use the service for it's design purposes rather than flat out 24x7 torrents.
At least one ISP has built their business on traffic shaping - PlusNet. The results of what happens when neither shaping nor caps are used (huge contention) can be seen in the gripes and moans on here (e.g. about O2 Access)
If you can't fix it with a hammer you've got an electrical problem.