I was an early user of the .storage TLD and registered a domain for three years. Fortunately I did not build my core business around that particular domain - a new registrar took it over and wants thousands of dollars for the renewal. I don't think there is much if any protection for predatory pricing on gTLD renewals.
The inconvenient reality of domain "ownership" is that you don't own anything at all. You rent it, and there's no control on increases or fees like other types of rent/lease. It's sort of like renting a car for a year and being surprised you don't have any equity when you turn it back in.
