Yes, but statistically nobody uses it due to those problems. Squatters quickly snapped up the most popular DNS names but since nobody uses it there’s no financial benefit from paying Danegeld, and that’s a vicious cycle of irrelevance.
This is the core flaw of most of these systems: people hype them up selling the idea that it’ll become huge later, but without some link to real value or authority there’s no reason to favor one implementation over another or doing nothing at all.
This comes up a lot in the case of IPFS because the core problem is that most people won’t host anything on the internet. It’s expensive and legally risky, which forces you to vet who you host and then you have a less revolutionary pitch which has to be based on cost, performance, etc. and that’s a tough market.
