I'd love to hear from the professional domain squatters what they think this will do for their business model. I can't remember names but I know some of the larger players can afford to pay for those TLDs.
They might be able to afford the application process, but would they be able to handle the infrastructure required to administer the TLDs they buy? Seems like a costly and time consuming proposition for squatters.
You can outsource all the infrastructure to a real registry. (Like how the "non-profit" PIR outsources all operations to Afilias.)
I agree that trying to buy a TLD specifically for the purpose of domain squatting is very risky. But in case anyone wants to try it, may I suggest .con?