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That's great until they get bored of running the service and you've now lost all of the aforementioned which are dependent on their domain.

Seems like a bit of fun. I've definitely thought even less about something before parting with $20 on it /shrug

It is not the $20 that is a the main problem. Backlinks to your profile and contacts with that email address for example.

I mean you could say the same about any business. I fail to see how this is unique in that regard.