"400,000 .mobi's registered .. As a comparison, only 100,000 .com domain names were registered in the first ten years of that domain's existence."
Summary: Those were different times bub. In this day and age a speculator could inhale 400,000 .mobi's in 3 minutes. Dot com's were added painstakingly (onesey twosey) by tens of thousands of individuals and companies over the course of a decade when the Internet was unproven. Today the Internet is proven. I hypothesize that these 400,000 mobi's are held mainly by large aggregators. I don't have anything against .mobi per se, but want people to know that I think this registry is just a sales organization. They are selling hope for a .com redux. If it's not there (and its not IMO), lots of speculators are going to give up and let renewals lapse and complain about domain names in general. That would be bad for the industry. In my opinion these guys are pick and shovel salesmen, selling said picks and shovels in an area with no gold. They are hoping for speculative folks and trademark holders (who want to protect against speculative folks) to line their pockets with annual renewal fees. That's how I think they will make money: Calling speculators with the siren call of hope and selling 'protection' registrations to trademark holders who fear speculators.
The important thing to remember is that there is hardly any natural Type-in-Traffic in .mobi (compared to .com).. The people who actually navigate to these names through their browser are often other speculators checking to see if the registration is taken (that phenomenon happened in the early speculative days of .info/.biz). You might as well open up one of those "Alternate World" websites and offer .mobile names to speculators and trademark holders. That's how I feel about .mobi (and .mobi's actually resolve). This feels like the proverbial tree in the forest, that nobody hears falling.
As a domain investor hoping to generate 'alpha' (positive cashflow) in this business, I am passing hard on .mobi and sticking to the CC TLDs of the big Countries, .org, .net or .com. I have seen .mobi before, only back then it was called .cc and .info.