On one hand it’s good because it makes domains more readable
e.g. a channel on youtube might become user.youtube rather than youtube.com/user or user.youtube.com
On the other hand it removes some of the hierarchical domain name structure that we currently have e.g. .com, .uk, .de etc.
Oh and there is the fact that with ICANN charging extortionate amounts of money for these new TLDs, small companies are left completely out of the loop.
If I had a spare £100000 or so, I could buy .sucksballs, and easily have a singletrackworld subdomain. Not sure why I’d want to, but can see there being disputes in the future if I did…