Ah, ok.
DNN doesn't have to replace ICANN, but it can with time assuming people like it. What you said in my eyes is good news actually. In realistic terms, people won't hop on to DNN at the same time, it'll be gradual, slowly but surely people would get a DNN name/ID (if I had to guess when it would have above 50% of the market, it'll probably be 25 to 50 years later).
Though let's assume this scenario where every renter of those 350 million domains suddenly wanted to have their name on DNN, then 2 years or less of waiting (heck, 3 years why not), to move the whole of this massive legacy system to a new one, in one go, in that time frame, and then everything is done? That's fantastic and fast actually.
