Obviously the registrars are in it for the money but this will be like the new .com domain but with several advantages:
1. The high price will eliminate squatting;
2. The lack of squatting will greatly reduce phishing through real-looking domains;
3. The price is low enough that startups with serious series A/B funding will probably buy their gTLD; and
4. gTLDs may well be out of the jurisdiction of ICE and the US government (unlike .com and .net domains as witnessed by recent seizures).
Bring it on, I say.