ICANN not do anything
Its is very much overdue that ICANN get involved in overseeing the Registrars that they appoint as for too long now a number of Registrars have ignored all the rules in order to line their own pockets at the expense of the public. What I speak of particularly is the "theft" of domain names from the public pool that they then sell off themselves. What some registrars are doing is instead of letting domains expire is changing the details to their own or an associate company's and then selling them off. That surely is not in compliance with ICANN rules but they know that they can get away with it.
Let us hope that the RegisterFly episode is not just a one off and then ICANN go back to doing nothing. It is time for ICANN to take a much more active role as they should have done years ago.