see also: https://news.ycombinator.com/item?id=5838670
https://news.ycombinator.com/item?id=12813065
https://www.theregister.co.uk/2017/07/10/io_hijacking_in_tra...
At least if you use .ca, .de, .us or .com/.net (or similar) you can have reasonable confidence that the root zone won't fail entirely.
If something goes catastrophically wrong and kills your business that is run by a .CA domain, CIRA knows that businesses in Canada have access to legal recourses... Do you have the same with a .ly domain?