The reason they are panicking is because they are all too dumb to follow the fundamentals in their own industry.
This policy development has been occurring over 3 years. They have all had ample opportunity to influence it. They didn't because they didn't even take the trouble to find out what was going down.
As for extensionless domains, I really don't see them catching on. At the moment most domains are advertised as
www.abcd.com. This is done to make it clear to people that they are domains and not just a bit of random text. If I type abcd in this sentence is obvious to you it was a domain? So what makes more sense
www.abcd or abcd.com? It is quite clear from what we have been seeing in the Far East that it is the abcd.com.