The is a horrendously horrible idea, for the same reason why unicode domain names are a bad idea. Domain names are important because they provide a reasonable amount of trust. If I type http://apple.com , I'm 99.99999% certain that I've connected to Apple's website. This gets nasty with unicode, because a person can spam your email account and get you to click on a URL which looks very similar to something like apple…
As for the apple site, there are other (better) systems in place for supplying identity information than just the url.