The proposal to remove the price cap on .org registration seems to be unnecessary and unreasonable, and the justification given seems to be back-to-front. In evidence that it is unnecessary, one need merely observe that the registry has not found it necessary to increase prices up to the cap of the previous agreement. No argument has been given for why running a registry could be anticipated to suddenly become more expensive. As for reasonableness, one should consider the expectations of registrants and the power balance between registry and registrants. If the registry should choose to raise prices by orders of magnitude, the only options for existing registrants would be to capitulate and pay up or to spend even more on migration to a different TLD: the leverage is entirely one-sided. Registrants can reasonably expect ICANN to act in the interests of the many and not the few by maintaining the current stability mechanisms in the new agreement. Indeed, it is disappointing that the base registry agreement should not favour the many over the few, and this is what I mean when I say that the justification seems to be back-to-front. Equitable treatment would be equally well served, if not better, by requiring price stability in all gTLDs.