I can't decide if I think the TLDs should be first-come, first-served like regular domain names are (unless someone cares to correct me? I don't know specifics

I can't decide if I think the TLDs should be first-come, first-served like regular domain names are (unless someone cares to correct me? I don't know specifics), or if I'd love there to be precedence blocking people from registering generic words. If you can register banana.com, why not .banana? But then .banana would certainly be squatted for someone holding out for millions against Chiquita, and that's just crappy for everyone.