Probably some mix of: it was an unknown and unregulated industry when domains were invented, the idea of ‘property’ doesn’t really work like that IRL (the bank or local government can take your house for myriad reasons), and people aren’t motivated enough to make any significant changes.
I wonder why we have to have registrars or to put it better I wonder why a person can’t buy a domain for life and own it.
Probably some mix of: it was an unknown and unregulated industry when domains were invented, the idea of ‘property’ doesn’t really work like that IRL (the bank or local government can take your house for myriad reasons), and people aren’t motivated enough to make any significant changes.