park.io is making $120K per month using an automated set of scripts that catch up pendingDelete domains from various registries.
Squatters do this kind of thing already, but they demand an exorbitant price or have some kind of opaque bidding process. Park.io at least introduces some consistency and trust in this process.
I'd much rather pay a small premium ($99 for the domain vs however much a particular registrar charges) to avoid that hassle and still get a great name I would never have gotten otherwise by scanning for pendingDelete domains.