ICANN participation

I posted this in the public forum as well, but I want to stress the issue:

Why does ICANN have the 5 day refund policy for registrars?
This is only an invite for domain fishing i.e. register and park domains and keep the ones that get enough type-in traffic to cover the registration fees. An invitation to SPAM in other words.

As they say, my 2 Insurance Directory owner cents