Fire up the moneymaking machine...
This is just a money making machine for ICANN - plain and simple.
All the marketers and SEO dickwads will be jumping on the bandwagon, convincing companies they *must* have their own top level domain to compete.
It's all total BS.
Most people just guess or search to get around on the web these days - a lot of that is to do with the way Google search works and as the dominant player, that's what most people use.
I want to find companyx ?
I just type companyx into the address bar and google finds it for me.
People are also used to just putting in a company name and slapping a .com, .net or their country domain on the end of it - 9 times out of 10, it works.
Once you start adding a slew of custom top level domains, your heading for trouble.
Firstly, there's company firewalls which tend to block out any domain suffix that aren't on the 'allowed' list, then there's the mess this will cause to the DNS system itself.
But hey, ICANN don't care, they've got $$$ signs for eyes.