This is all well and good, but laws of limited supply mean you're only ever going to have 5% of people being the top earners, just like in any other commercial sphere.

Firstly, not everyone can be a super affiliate, as there are only so many customers to go around.
The customers, by and large will be driven towards sites that are better advertised. And not everyone can top up their adwords account to meet price rises that will inevitably happen if everyone starts to pump money into these things. Then the only people that get rich are the people providing the ads.
Finally, there's a VERY finite limit on good TLDs. Until new memes show up, it's going to be very hard to acquire a TLD that suites a niche that already exists, even more so one that gets type in traffic unless it's a common typo (in which case, expect a law suit from the person that owns the non-typo form of the TLD in question).

Sorry to sound like a cynic, but the lesson here is that if everyone does this, it just raises the bar higher.