Actually, while this has been tried many times and more or less failed each time, the actual concept itself is an excellent one, anydomain.anytld domains are coming. The thing is everyone that has tried so far has failed for two reasons:
1. The first mistake is trying to raise revenue by charging for the domains, (they need to be free until the uptake has reached a milestone, say 10 million domains registered.) 2. They try to get the ISP's and ICANN to accept them. This is not necessary if you are the largest search engine/interactive network on the net, that kind of follows when number 1 is achieved.
The first interactive network type company/serach engine company/large ISP that offers a service like this to it's extensive user database for free would gain the competitve advantage. Google is a company that could pull this off in the morning and virtually dominate the internet by doing so, however, the only reason they don't is that they choose not too. Myspace is an interactive network type company that could do it as are a few other major ISP's. The likely reasons they haven't are: they never considered it, they don't want to rock the boat with ICANN or upset the internet root system.
But some maverick company that sees the potential in offering free unlimited, unrestricted type anydomain.anytld domains to internet users will pull it off just like other online companies recognised that there was money to be made in offering internet users free websites not so many years ago.
I strongly believe the day where internet users will be able to choose resolving anydomain.anytld domains is not that far off. ICANN has done a great job of holding back the tide so far but the vast amounts of money to be made by offering such a service is phenomenal and will not be ignored for much longer.
Anydomain.Anytld is the holy grail of the internet, who's going to own it?
Don't say ICANN, their just the gatekeepers, they just try and prevent everyone else from having it.