For all the talk about the internet being decentralized, that may be true on the IP layer, but once you get to DNS, its very centralized, with a single private entity essentially controlling your online identity.
I've actually stopped from switching to a hosted email with my own domain because of this. If they decide to 20x the price, I lose my email, and can't do much about it. If someone else registers it, they could suddenly read all emails sent to me...