As someone who has worked with the Internet for more than 20 years, I always have to laugh when I see the "The Internet may not even exist in 5, 10, 15 ... years" line. Thank you for the mirth.
I am quite sure that many people thought that area codes would not work out or even toll free numbers that weren't 800 prefixes. Sure, you have a cell phone that allows free long distance - not all consumers do.
As for the 10 year appraisal of FLY.MN , who knows ? In 1990, 16 years ago, business.com sex.com travel.com loan.com were all available for regfee and only me and about 4,000 others had even heard of the Internet. If this is your only domain and your retirement plan, good luck - it may still work out. Really, for what domain names cost now - I believe it would be had to not justify the cost by a sale within ten years. I wish I had bought a lot more ten years ago.
I do agree that in the future (2,3,5 years) the domain keywords will be as or more important than the .com TLD. It really just stands to reason. The old TLDs (.org,.net,.edu, even .mil and .gov) and the ccTLDs (especially .uk,.ca,.la,.au,.de,.jp,.in,and .cn) have seriously diluted the global value of .com.
I also agree that companies will select domain names with less emphasis on the TLD and more emphasis on the "brandability" or "rememberability". For this reason, FLY.MN may be valuable to a Minnesota based airline TODAY. Also a pilot with the initials MN or company that specializes in ad hoc flights (FLY.Me Now) or the like might be willing to pay in the $x,xxx.
Interestingly, I have found that the very group of people who are so confident the know where the market is headed spend almost no money advertising their products to the intended consumers. It is not about the .com folks - there is a whole market out there waiting to be educated as to thier choices. Dot coms are popular (in the US and globally) because of the billions of dollars (yen,rubles,DM,pounds,punts,rupees) spent informing the public about the .com product. The other TLDs (and ccTLDs) will catch up in popularity when they catch up in MARKETING.
I agree, let the discussion heat up.