Asking users to pay (and go through UX hassles) to register domain names is not a mainstream user experience. 

It was tried many times including with RSS and didn’t work. 

If your protocol design relies on it, it won’t scale. 

Centralized intermediaries will step in to streamline as Twitter et al did with RSS.

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that's where subdomains come in. Coinbase is doing to for free right?

if they are built on ENS then they have a decentralized backbone.

I guess if companies decide to not use the public source tools it will become more centralized in implementation

Like if coinbase doesn't give users irrevocable subdomains via namewrapper

Yes that’s how tumblr, Twitter etc all started out but then they cut off RSS and became closed networks. Why would you trust subdomains to play out any differently than they have last 30 years?