I have a follow up question.
As an example, let's take a web hosting company Host ABC. Host ABC is a top provider hosting 500,000 web sites, 20% of which registered the domain directly through Host ABC (100,000 domains).
Now, when bad things happen and a client wants to leave, to me it seems that the chances that a company will lose not only the hosting revenue, but also domain service revenue are much higher, since the client would likely want to take his domain away as well. So I guess my question is, if you are a hosting company that is either a registrar or seeking to become a domain registrar, unlike a traditional registrar (with domains being the only focus like Enom, Namecheap or GoDaddy, among others), how much more risk and weight does a hosting company carry in losing business? It just seems to me that no matter how many domains you have under management, 1,000 or 100,000, as a hosting company, you are a lot more susceptible to losing that business (compared to traditional domain registrars) when things don't go too well.