Principle is sound, but why the "major ISPs", aren't they part of the "management" problem of the Internet anyway?
Yep. Back in the mists of time, most of this stuff was decided by the 'community', ie the major ISPs. Time passed, the Internet exploded, and different interests became involved. So as an example, back in the day, the UK's LINX was an ISP's club. Then came some fun meetings to decide if non-ISPs should be allowed to join & peer, eg the CDNs and content members. Same thing happened with Nominet, which lead to registrar's effectively taking that over.
Why wouldn't it come under the remit of the United Nations? Could easily be run under their banner, run as a "not for profit", but able to cover it's running costs.
Meet the new boss, same as the old boss. It could be swapping one bloated bureaucracy for another. And past events have shown that 'not for profit' doesn't mean what people think it means, ie ICANN's policy decisions have enriched ICANN.. And now they're doing their own equivalent of the UN's oil for food programme and enriching themselves.
A logical place to move to would be the ITU, but that's more about defining technical standards rather than commercial/policy. At least in theory. But this fiasco's shown ICANN and some of the related parties may no longer be fit for purpose and should be reformed.
And kudos to Kieren for his work on raising awareness regarding this mess.