I completely agree. Something to keep in mind is that the domain name system is almost unlike any other commodity -- in that only one of each exists, and it can never be replicated.
For example, no matter how rare a baseball card is, there is almost always a few others of its kind. Same with comic books, and so on. Now, no matter how rare an antique piece of furniture is (let's say it's a one-off, hand-made piece), you can still replicate it with enough attention to detail to nearly fully mimic the original.
But, with a domain name, there's only one. And, you can't mimic it. (You can get the .co, but that's a whole other story.) Consequently, domain owners have a lopsided amount of haggling power.
For example, no matter how rare a baseball card is, there is almost always a few others of its kind. Same with comic books, and so on. Now, no matter how rare an antique piece of furniture is (let's say it's a one-off, hand-made piece), you can still replicate it with enough attention to detail to nearly fully mimic the original.
But, with a domain name, there's only one. And, you can't mimic it. (You can get the .co, but that's a whole other story.) Consequently, domain owners have a lopsided amount of haggling power.