I registered my own name under one of the new gTLDs because it was $10 for a year and I thought, "why not?". I didn't do anything with it, partly because I remained sceptical of the new gTLDs so didn't want to switch anything critical over to it, like my email address.

That is probably just as well, because a year later, it had been reclassified as a "premium" name. The renewal fee was over $400,000.

The fact that the owners of gTLDs can set pricing arbitrarily is the biggest problem in all this. A given domain name usually has no intrinsic value. What gives it value is the effort someone puts into marketing it.

With the new gTLDs, the domain operators are free to offer useful names that aren't trademarks, but are unavailable as .com or similar. Then should anyone build a successful business on that name, they are free to seek arbitrarily high rents.

There is no sense in which you can buy a domain name outright. Nor do the new gTLDs have any form of rent control. That is a fundamental problem with the system as it stands.