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It’s because DNS already has a centralized authority, which is necessary to create gTLDs and manage the sale of brand new domains. Once you have an inherent central authority, a lot of the benefits of a blockchain goes away.

ENS has largely replaced DNS in crypto. Most dapps integrate ENS to display human readable names for addresses and it supports arbitrary TXT records so some apps are using it as a shared profile of yourself that you own.

You're probably aware of: https://en.wikipedia.org/wiki/Namecoin

I think they meant, "why didn't Namecoin replace DNS?"

It's all a significant risk to the internet.