So it's not AMZN that wants to own the word, it's South American countries that want to do so, even though they have no more right to it than the company.
They had the word first. That is a compelling argument.
Imagine I start a company today called "America" (I'm in the UK). My business is wildly successful and grows to the point of being a global unicorn that can afford gTLDs. Should ICANN allow me to own .america? A lot of people would argue I shouldn't..