I don't know everything so I'm here to be educated but look at it this way. Group of entrepreneurs get together and grab themselves a ntld license say .club.
Everyone spends hours debating if it's worth doing on the basis will it make a long term and meaningful contribution to the websphere. But who's to say the startup gives a toss if it does given once licenses they can auction off the premium domains to the highest bidder, and that's all they need to care about. Look at this list and my suggested pricing
Golf.club [$5million]
Football.club [$1million]
Wine.club [$2.5million]
That's just 3 and probably at least another 500 exist that you could justify over 50k pricing on. Your literally recouping millions from your 500k investment just off less than 0.01% of your stated anticipated registrations. You simply don't need to care what happens after that. It's a year before renewal rate figures come in and by then money's safely bagged and sunning it in the Cayman Islands or something.
So the minute it was allowed that new registrars can auction of the most premium domains any notion of whether they are in it for the long term becomes redundant imho.
.dotcom was different in the crucial way folks registered million dollar domains for reg fee, the registrar forcing the registrars think long term in terms of recouping.
Be interesting to see how many of these new tld's would be coming into existence if the new registrars were not allowed to take ownership of the premium ones and sell/auction them off.
Agree with the principle but I think maybe you got all your figures wrong.