ICANN opens up Pandora's Box of new TLDs

Two years ago I posed the question here about the need for TLDs (http://www.mcabee.org/lists/nanog/May-06/msg00110.html). I summerizsed that companies IP (Intellectual Property) guidelines would never allow domain.org to exist if they owned domain.com (ibm.org vrs ibm.com). I felt that TLDs really represented a monetary harvesting scheme as every new TLD forced companies to "pay for yet another domain name" (slowly milking businesses). At that time several knowledgeable folks commented that TLDs were necessary in the beginning due to the need to distribute queries. Now it seems, ICANN has decided to add a new paradigm :-) How will a TLD like .ibm be handled now, and how is this different than what I proposed in 2006? -Jim P.