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The process of first offer on it sounds perfectly fair... but I think expecting people to double their payments is extremely optimistic.
They're a business. They can test whatever business model they like. I assume if it doesn't work out for them, they'll have a rethink. Nokta are a big player and have been in the domain industry a very long time. They're not going to just sit there and spin their wheels if something's not going to plan...