Bollocks. What ICANN overreach? Creating around 2000 new top-level domains over 20 years at the request of the "global multi-stakeholder community" that anyone can be a part of? You prefer Handshake be the sole determiner? Why Alexa 100k not 10k or 1m? Who made them god of the root again?
ICANN overreach? You mean like opening a gTLD program (why not) but only for the richest corporations on earth. By making a 100k$ entry ticket they have made sure that only bda commercial actors are able to operate a gTLD, leading to outcomes such as many unprofitable gTLDs closed down over the years [0] and certain TLDs raising prices by over 100% from one year to the next [1].
Moreover, ICANN-affiliated industrial cartel is trying to keep this for-profit status quo, as exemplified by njal.la registrar operator Peter Sunde being denied ICANN accreditation despite being well-known (despite my political disagreements with him) as a good-faith actor [2].
