IMO, this opens up a real bad can of worms regarding property rights where rich/powerful organizations are going to be able to bully individuals much easier to

IMO, this opens up a real bad can of worms regarding property rights where rich/powerful organizations are going to be able to bully individuals much easier to seize domains they want. Imagine you have some snazzy domain for a project, but all of a sudden Coca-Cola or McDonald's marketing team wants to use it for some Super Bowl promotion next year. If they apply their full weight and pressure on both the "independent governing board" that determines disputes, as well as on you ("Better accept this one-time offer of $500 for your domain now or who knows what the board will decide?"), essentially you've really disadvantaged individuals.