Cynically, any new tld is banking on the legion of big companies that will pay fof theirname.whatever so nobody else can.

Hopefully, if enough of these tlds are around, there's too much real estate for it all to be squated on. Although I have a feeling it's still going to be a .com world for a long time.

Edit to add: the terms are pretty weird on this. I would not want to build my brand around a domain thag Google could take away capriciously because they didn't think you followed their terms enough.

Why would TLDs need to be created based on need? What’s wrong with a company making a TLD as a whimsical cute idea (and still expecting to be profitable doing so, because whimsical people will go along with it)?

I'm not necessarily talking about the TLD. This is more like a "service" that's controlled by google and certain rules are enforced to those who hold the domain.

This makes very little sense to me. I get that it's nice to have a short domain that points to some action. But why do you need a completely separate namespace for this?

Using .new for something "cute" means it can't be used for something useful anymore.