ccTLDs can have similar issues to the new gTLDs - the administration of those is contracted out by ICANN too, usually to a State level body of some kind. The quality of these varies hugely as well. This is also why countries with desirable ccTLDs like .tv (Tuvalu) abuse their position by charging more for their TLD.

.io as used in this example was a ccTLD, and this issue was directly caused by its mismanagement.