I remember back in the old days when it cost so much to register / purchase a domain name. Do you remember when it used to cost $100/year with a 2 year minimum? It made purchasing a domain name very expensive.
One really had to think twice before deciding on a domain name and registering it. When they opened up the market by allowing other domain name registrars to get in on the domain name registration business, prices to purchase a domain name went down big time.
When the price to purchase a domain name was reduced, it was a mad scramble to purchase domain names. I remember it clearly because I was a part of that mad scramble. I purchased so many domain names, that each year I dread receiving the renewal notifications for all of the domain names I purchased.
It's a yearly reminder that bites into my wallet. 8-)