While UnifiedRoot isn’t the first company to think it can convince people to adopt a different way of addressing Internet domains, they seem like they have thought through making possible domain names like news.cnn (for CNN), products.ibm. Mind you are they are way over-priced, unless I misunderstand the pricing scheme.
Nevertheless, it is an interesting idea. After all, the idea that your domain name must end in .com is an artifact of the the way the domain name system evolved, not something that has any real utility to anyone except tax lawyers. Change would be good — and would help keep ICANN honest.