Earlier quoted context omitted.
think about them like really expensive .com's and this will be easier to swallow. you can't get google.com or sex.com because they are taken - but you can get any other .com that is available. or you can get on somebody elses domain for free like .blogspot.com .wordpress.com .tumblr.com etc. there are a lot of reasons i don't like that ICANN is doing this but fear that these companies are going to employ abusive mono…
edit: his comment was edited after I typed mine and I'm too lazy to change it back and forth- for $1 million plus in costs. You are confusing the extension with a domain name. The point is not to have ONE company own and control an extension (like .com) and all the domains in it. ICAAN should control them and then allow people and corps to register domains within that extension.
One company does control .com right now, and .net. Their name is VeriSign. Just like VeriSign administers those, Google is going to administer .shop.