A big part of this is the Rise of the Premium Renewal scam many of these hobo registries are running.
Over a period of time, buyers experience this, complain about it online and thus make other buyers extremely antsy to buy into this type of risky venture over the long-term. Rinse and repeat. So we get a movement back to .COM or to true ccTLDs that aren't short-money scammers and offer standard renewal rates.
The Golden Goose = Cooked!
This will happen to them all eventually, even XYZ.