There is something very smart going on here, but it's not the idea of using DNS to store contact information. What's smart is the ability of Telnic and its affiliated registrars to convince everyone (ICANN, NYT, probably most HN readers) that they're trying to do something vaguely cool but naive, when in fact they're just going to cash in a huge gift from the internet.
Here's the secret: new top-level domains are virtually guaranteed to make tons of money for registrars. Every medium-sized to large company is going to buy a domain in a new TLD; it's worth the cost just to avoid having to deal with a squatter later, even if it is (gasp) $400. If you can convince ICANN that you have good intentions, or that you need a country code even though you're part of the United States cough.prcough you are going to get a lot of easy money over many years.
And yet, we'll still look back at this in a few years and say "yeah, those .tel guys must be really pissed that nobody adopted their cute little standard."
How naive indeed.