Just my opinion!
Top-level domains should represent the country - the only one I know of is bl.uk, there must be more. I was a registrar with Nominet from 1998 to 2005 when I sold off. I watched as the older JANET types were eased out. This latest is a scam pure and simple.
What a change from the idealistic decades of such as Jon Postel (SMTP, RFC), Paul Mockapetris (DNS), Vint Cerf (TCP/IP), Whit Diffie (PKI), Tim Berners-Lee (HTTP/HTML). Phil Zimmerman (PGP), Bill Joy (UNIX),
What connects these individuals for me is their idealistic benevolent conceptions of improved communication and the preferment of human knowledge over commercial interests. None of them were in it for the money.
Greedy Nominet, shame on you!