The average Joe with an io domain is probably a developer happier to code up a migration than be extorted so dearly.
I would occasionally check it, and the price would vary by hundreds of dollars, but never a price I was willing to pay. Eventually I think it lapsed again and was picked up by some Chinese site that (I think) was trying to sell massages.
Finally, in 2021, I guess they got tired of paying for it, and it fully lapsed, and I was able to purchase it, so I bought it for ten years.