Re: "Maybe I'm naïve, but I hope they do the right thing."
> Only disadvantaged in the fantasy world where registrars are entitled to rake in profits from utterly pointless domain names.
No, disadvantaged in the very real world where he paid hundreds of thousands of dollars under a contract in consideration of which ICANN had promised (explicitly or implicitly) to deal with his application fairly—a contractual promise that they have unquestionably breached.
I very much doubt the courts would care to hear argument about the merits of his application, or the consequential losses ("profits from utterly pointless domain names") he might have suffered: like the IRP, their concern will probably rest entirely on the question of whether the process was conducted properly.