I don't know if Namecoin itself will be the solution, or some other blockchain-based method that achieves decentralization such as the more generic Ethereum [2], but as engineers we should be supportive of such systems, as they provide better security and true -not just delegated- domain name ownership.
Actually, the problem is exactly the opposite. Any CA can sign a certificate for any domain.
What compounds the problem with the CA system is that CA trust is sticky. When a new CA gets added to trust stores, they are effectively trusted for life. That's not how trust actually works.
What we need is a system that is distributed and that allows for trust to be granted and - most importantly - revoked at will without causing collateral damage (i.e. for innocent sites that end up using a bad CA).
Moxie Marlinspike's convergence[0] was a great idea, but it's never really taken off. TACK[1], also by Marlinspike, looks like nice feature to help transition away from the CA system when we come up with something better.