As mentioned in the article , what if the registrant had sold it or spent a fortune promoting a developed website, then ends up "held to ransom" quite unfair
Registrants must take responsibility with whom they deal with. All new tlds and repackaged country codes are very risky for running a business on. People are trusting the government of Colombia, Tuvalu or new tlds registries losing millions of dollars a year. Recipe for disaster.
Say I go to Thailand and a guy offers to sell me gems, I get home and find out they are glass stones? Whose fault is it? The guy who sold them? The Thai government? Nope...none of the above. I can't get any money out of them.
For the guy building a business on an ntld, they are probably making 100 other bad business decisions as well, what is the chance that they've only made one big blunder? Is it worth try to regulating that mess? At what point do people just have to to accept they are lying with dogs with these tlds?