I like the main idea behind it. Instead of arbitrary people registering and selling domain names in a first-wins manner, there is a collaborative/consensus process behind it, to decide which word should point to which website.
I think that in the long term, such a collaborative process to establish a <search-term> => <urls>[] mapping, would be more useful than search engines or domain names.
I think that in the long term, such a collaborative process to establish a <search-term> => <urls>[] mapping, would be more useful than search engines or domain names.