I don’t follow the “peaceful means” argument.

That being said, there is plenty of abuse of domain space on the network today – the number of junk domains (a domain where you only get a single page with lists of ads for spam sites, viagra and travel agencies – I have no idea why, but they always have travel agencies) is incredible – it may be more then the number of valid domains. The way these things work is that no one is actually paying for these – a spam operation registers tens of thousands of these daily, and unregistered them 3 days later, so they get a full refund. Then they do it again.

Adding grab-a-TLD type of registration will not only increase this behavior a thousand times over, it will allow the creation of junk TLDs whose sole purpose is to generate spam domains. You can say that you don’t care because you normally don’t visit these sites, but it does affect you – more junk domains means more junk on your search engines as they have harder times distinguishing between this and real sites, it means more blog spamming to advertise this junk, it probably means more email spam and so on and so forth.