- Why not use any other modifier ending, like 'ing' or 'ish' or 'vore' like:

See point #2 - I bet if .ish was a CCTLD they'd do exactly this.

- Libya? Wouldn't Liechtenstein be better? It ends in 'li'.

See point #1. :^) Pardon if it wasn't obvious but both these facts combined for handy 'sniglet' (fake but realistic English word) domain names.