This is a problem because you risk having domains that nobody can use anymore.
Edit: as I wrote in another comment, I got confused with indentation and assumed that the comment I was replying to was saying that it doesn't make sense to have a recurring fee for domains. I'm sorry. I do agree that a blockchain isn't a good alternative.
Don't forget to pay your government taxes, or you'll quickly find out just how far "ownership" goes.
Because your cloud data is secured by your email address in 99% of cases
Why is that a problem? Do you even understand how physical property IRL is owned at a legal or philosophical level?