FWIW, the letter that looks like "H" in Russian really makes the sound of the letter "N" in English. The closest equivalent to the sound of an "H" is the letter that looks like an "X". BUT, the sound is very hard -- more like a "KH" than "H".
ERGO, who is to say that someone with a English name that doesn't translate well into Russian wants to market using his initials? Would he register the equivalent IDN to OX.COM? Or would he prefer a domain with the Cyrrillic "O" and the Latin "H", since no suitable Cyrillic replacement can be found?
Sure this is far fetched -- but about equally as possible that someone would buy this domain in hopes that
the company that currently owns oh.com (whose customers are probably not worth phishing at all) eventually sells to someone whose customers ARE phish-worthy. Most likely the buyer will buy the domain for its novelty. Maybe to use as an email address. That's all these English look-a-like IDNs are good for nowadays.
Bottom line, is there are a lot of CRAPPY domains being sold on this board. When I see one, I just keep looking. I don't start a stink about how these domains are worthless and shouldn't be sold here. While IDNS may be used for phishing, plain boring old disposable domains work just as well. Why would someone go through the effort of using an IDN and risking their victim not having the IDN plugin installed?