The only reason a squatter ever registers expiring domain names is to capitalize on someone else's mistake and to see if they can extort some cash out of someon

The only reason a squatter ever registers expiring domain names is to capitalize on someone else's mistake and to see if they can extort some cash out of someone or take over a domain with existing backlinks for black hat SEO reasons. I don't think "stole" is really all that strong of a statement albeit technically incorrect. If someone buys up an expiring domain name because they want to actually use it and not just try and immediately sell it back to the previous owner no one has an issue with that.