As long as we throw out the whole 'memorable' part. Which has both branding and security implications.
We need to either commit to a limited set or unlimited set. Being stuck in between in the worst of both worlds. If it's unlimited we can treat domains more like phone numbers and rely on 'contact book' style systems for personal reference instead of memory. Which would help solve both branding/security issues.
You could even diff the URLs against your URL "contact books" (I'm trying not to say bookmarks), to warn against possible phishing too.
So then we can throw out the DNS and just use IP addresses or some IPFS-esque scheme.
...so then the nodes operated by the FAANGs would be authoritative just by virtue of popularity. Dangit.
I guess we're back to HOSTS files.
We already have security implications, a domain name should never been the only proof.