Yeah I am aware it's a perfectly good business model. But this specific type of domain squatting is incredibly annoying. I couldn't find any information on their website now but they were charging a lot more for just being able to point a sub-domain somewhere.

I'm sure I would have found the idea clever if I had thought of it first but the wording on their site makes it seem like they are trying to do people a good service when it seems their sole purpose is to make money (which is understandable).