Well, let's talk about the real-world implications...
Suppose you spend a fortune building up the web site "NextBigThing.com". Then, one day you find that the domain name has mysteriously been mapped to the IP address of somebody in some other country.
You built up the company, but now someone else has taken it over with a SINGLE KEYSTROKE!
In short...this is H-U-G-E ... it significantly erodes the value of every US-owned web site.
Yours is the most poignant answer; thanks! I just hope people wake up to this fact.