That's not a good replacement for actual trademark protections though. They reserved 100k TLDs in a pool of unlimited TLDs and there's no solution to stopping 2nd level domains from infringing.
For example, what happens if the owner of the HNS TLD `techsupport` decides to sell subdomains and sells `microsoft.techsupport`? That's an amazing phishing domain if HNS is part of a mainstream resolver somewhere. How about `stripe.payments` or `disney.movies` or `google.search`?
What do those reserved domains do for me if I'm not in the Alexa top 100k?
The phishing issue not an argument against HNS domains. Phishing already exists without handshake domains. With ICANN domains you can also be creative and place misleading domains that harm for a while. I would rather say the ICANN system as it is today is not addressing the problem properly and fast enough. There are plenty of ways to make it faster and more secure working with a decentralized system that is not dependent on the reaction time and judgement of one institution.
If you are today not in the Alexa Top 100k you have plenty of room to find a great domain. And there is a lot of opportunity to get better names. ICANN domains are limited, intentionally made scarce and often blocked and not used. And you need to rent them instead of owning them. What is the added value from renting them?
For example, what happens if the owner of the HNS TLD `techsupport` decides to sell subdomains and sells `microsoft.techsupport`? That's an amazing phishing domain if HNS is part of a mainstream resolver somewhere. How about `stripe.payments` or `disney.movies` or `google.search`?
What do those reserved domains do for me if I'm not in the Alexa top 100k?