Imagine this scenario. We all know that web giants tend to pop up every 5 years or so. Now imagine if one of these business phenomenons like MySpace, YouTube, or Facebook, where to hit the internet while using say, a ".web" extension (if it comes out). Now imagine if this particular company is really hot with newer generation web users, a trend setter or household name like the examples I listed above. Is there anyone here that actually believes a scenario like that would have no affect on the mind share and value of the .com? Would it sink the ship, of course not, but if .COM were a stock, and it generally trades at $1.00 a share, it's pretty reasonable to think it's value would drop a little, maybe a lot depending how the dynamics play out on the ground. Even if it didn't drop in value, perhaps it's appreciation would slow. That has happened already, big well financed players have dumped millions into alternative domain extensions, but right now .coms are still breaking sale records, so any ill effects are well masked by volumes of substantiated good news.
Look at how faddish people are with technology, fashion, dieting. It's fantasy land stuff, but imagine if .com developed a grandfather association with newer web users. Is that a plausible scenario albeit far reached, I think so.
The reason I leaned so heavily into this subject, is because I get tired of listening to the unsubstantiated cheerleading in the forums, and blogs, about certain TLDs. It's collective blindness. The more investors that see .coms weaknesses and vulnerabilities, the safer their investement becomes (foresight increases, reaction time increases, etc. etc.). Obviously some trends are just too big to counter in any form, but such is investing.
My 2 cents... I'll bow out now, and stop boring people.