Registries operate the authoritative database for domain names in a given space.
If you put a for-profit into the registry agreement, you never get a level playing field. One of the proposals is for multiple domain registries in the .au space - a practice which has not been attempted by any other ccTLD administration. Former Melbourne IT chief executive Professor Peter Gerrand advocated the introduction of competing registries. Such bodies become too forgiving of their shortcomings in service. But he conceded the lack of precedent was a shortcoming.