It all depends on the risk appetite and preferences of the end user/investor buying the domain. Its wrong to throw out random numbers like 97% simply because we cannot quantify scenarios with infinite possibilities. In some cases renewals are a problem, in others it isn't...you can't even say "most" because there is an incredible amount of variance since no one trade scenario is the same when selling/acquiring domains. You still point out a relevant issue that I'm sure is taken into consideration.
The only people who have made money in GTLD's are the guys with deep pockets who grabbed the top quality stuff before the premiums got jacked, or the registries who got suckers to pay up for high premium domains.
There are tens of thousand good premium domains sitting unregistered.
97% comes from people who have made money with GTLD's if they price in what they have invested, paid in renewals, and got out of it, including their time, and effort. It is just not happening.
I know you guys want to think you came along in 2015, and found gold, but it is just not the case.
You will continue to make the odd sale, but you will pile it all back in, along with paying above average, and premium renewals, the business plan just does not work across a broad spectrum.
They aren't giving any good names on the cheap, and cheap, look at what .blog just did.
They have taken you out of the game, before it even started.
There are guys here who say what is $1200 to a big company, who have never talked to a person who makes the call on that, just because you want to believe it doesn't make it true. First off you want to be paid a end user price for the domain, then you want to pass the buck on a $1200 premium, get real, across the board that will equal failure.
If you got the right keywords in 2014, and maybe scalped a few in 2015 off the reserve lists with low enough premiums, you might have a chance to grind out some profit. All the guys registered every scenario .company or whatever without wondering why the .com sits unbought for $988 from buydomains for past few years, and all other extensions are unregistered are part of the 97% that just want to believe what they want.
These guys are great for the industry, because they throw stupid money at everything, and make everyones portfolio worth more.