You should read their proposal. Specifically, the first "core feature": one person, one domain. If you want to squat on a domain, go for it -- it's yours, and that's the only domain you're getting.

I suppose this will be done by ID verification, which is a complete and total non-starter for me, but they do have a vision of some kind.

I've read it, I don't believe it will be effective, even with actual physical ID verification. Scammers can get more IDs, for example by way of scamming.