A money grab for whom? ICANN, sure. But if a company wants to spend the $200k, what is the big deal?

Some companies (ex http://www.nic.ovh/en/index.xml ) are using it for their customers.

Some companies (ex https://calculator.aws/ ) are using it for shorter URLs, while still being descriptive.

Sure some are just doing it because they can, other's have no good use case yet. But I fail to see how .bananarepublic being in the hands of one company is a detriment to me... the average internet user.