[tga]

He (like most domain squatters) is blocking milk.com from being used for a practical purpose (from what I can tell), hoping to get $10M+ for no other reason than being the first to register it. He is definitely not creating any wealth in the process.

[danfuzz]

My read on his "value" page is that he doesn't actually want to sell. Assuming he just wants to keep using the domain for his personal site and have the same email address he's had since 1994, would that make it okay for him? Would that still somehow be immoral rent-seeking? What makes those uses of the domain "impractical?" Who is he morally obligated to give or sell the domain to, and if it is to be sold what is a fair value that wouldn't make it "rent-seeking?"

[tga]

Yes, those are good questions.

[danfuzz]

Pretty sure the main answer is that he's not actually engaging in rent-seeking in any pejorative sense.