THERE WOULD BE NO
...need for SEO
People will just make creative content that everybody interested appreciates. People would flock to these websites somehow impartially.
...people stealing other people's content
Artists, writers and musicians would thrive independently without the need for an expensive marketing machinery. People who work hard at creating get rewarded more.
Because there would be no need to buy expensive software for the consumer market. Free operating systems with the same capabilities and the perfect compatibility with proprietary systems will exist because there would be no greedy patent holders that keep that from happening. Music would be distributed like in the olden days, when bards and real poets would travel like wandering minstrels and artists.
...racism, stupidism, disrespect, hate, greed and evil.
Because people would understand and respect each other's differences. If a person doesn't like another person's opinion, then that person voices his dissent respectfully without using derogatory words to make the point. Evil would cease to exist, well, because there's simply no room for evil in a perfect Internet. Or evil has it's own place and doesn't invade the realm of good.
Danny on Google+
But that's only going to happen if the world itself is perfect.
Because the Internet is merely the world's imperfect reflection.