"Short of a major improvement in peer to peer networking leaving the current infrastructure redundant I don’t see a good way out of this unless the new owners get an attack of conscience and put .org into charity ownership. Sorry, dropped off there and started dreaming."
ICANN only "own" root because everyone lets them. Similarly, ".org" is only owned by whoever ICANN says it is because everyone lets them.
If the world got together, and said "enough! restore .org or we'll split".
Anyone could recreate root and ICANN would be out of the equation - it's all down to critical mass.
N.B. I'm not for "root" to be fractured - but if everyone else decided to use a new worldwide independent root, they couldn't be technically stopped.
(I'd also kick out all those new "top level domains" for starters.... Shove them all under a domain ".idiots".. But I guess that ship has sailed...)