May happen but it will destroy the existing confidence in security, weak as it is, on the www. People will stick to what they know and only heavily advertised sites will be deemed secure. In essence, it will kill confidence in the Internet's security, and be extremely costly! In my humble view, it could change the Internet into a stupid game for moneyed players!
http://www.csmonitor.com/Innovation/Horizons/2011/0620/Domain-names-turn-.com-into-.anything?cmpid=ema:nws:Innovation%20Weekly%2006222011&cmpid=ema:nws:Njk0MDY0Nzg4NwS2
Scratches to Sketches