If Libya Shuts Down the Internet, What Happens To .ly Domains?

Which makes country code TLDs an answer... how? They're not .com either.

If the name you want is already owned, make contact and negotiate a price. You know, like everybody else in meatspace does with land, trademarks, etc.

Not true. Spend a few minutes playing with this: http://impossibility.org/

I'm all for abolishing the TLD suffixes totally since (a) they're not used consistently anymore anyway, and (b) it reduces confusion between cases like foo.com and foo.org and foo.net, etc -- unsophisticated users (who are the majority) may assume some or all are the same service or purpose, but they are not. Yes, in a way, in acts to increase demand for a single namespace, but on the other hand, the same sorts of workarounds and naming hacks are still available (add extra words, suffixes, dashes, etc.).

I personally now like fun/weird non-sensical non-specific "made up" names because (a) they're more likely to not already be taken, and (b) they could be used for an almost infinite variety of purposes justifiably. For example: www.spooflurk.com could be for shoes, sex, politics, a CV, a company, a game, a band, whatever, whereas www.shoe-sales.com is rightly expected to be pretty much about selling shoes. Yes you'll get less "organic" traffic (and less accidental traffic, which may sometimes be the same thing) on the other hand I'm a firm believer that the most important thing is to provide something people want, and eventually the right number and mix of people will find out about it anyway, regardless of the name. The noise to signal ratio in the world is pretty bad so quality stands out and people talk.