1. Spying on everyone out of paranoia over terrorism.
2. Doing whatever the RIAA and MPAA's lobbyists want them to do.
That's not so good, but the ITU's express goal seems to be to balkanize the internet into a collection of state-controlled networks. One of the biggest benefits of the internet is that it shrinks the world and grants everyone, regardless of what country they live in, access to the same online community. I probably sound like complete hippie saying this, but I believe the global community created by the internet really is bringing all peoples of the world closer together. Reversing this trend would be far worse than anything ICANN is likely to do in the next decade!
Of course, as bad as the ITU's intentions are, the reality would likely be even worse. The internet is so interconnected that the power one state is granted over the internet in its own jurisdiction would likely translate into power they wield over everyone.
ICANN is, by far, the lesser of two evils at present. I am very concerned about the decline of respect for privacy in the U.S., but things simply haven't gotten bad enough yet to make the ITU look good by comparison.