New Internet Domain Names

A topic which probably straddles a few modules - and I'll try to cross post.

You have probably seen reports of the ICANN initiative to allow (for a very significant price) organisations to bid for their own top level domain name. The link below

http://newgtlds.icann.org/en/program-status/application-results/strings-1200utc-13jun12-en

should take you to the current state of affairs. What do you think? My own feeling is that many of the names applied for will never be commercially successful. In itself perhaps not new with ICANN. There have been a number of top level domain names - such as .biz - which have been established and failed miserably in the market place.