What is the value of a top-level-domain if its domains can't be found?

We all know that .tel domains are hard to find on the internet. Especially the domains from Telnames can’t be found at all.
 
What are the reasons why still about 100 new domain registrations still take place on most business days?
 
I have thought about it and had the following ideas:

Advertisement: The commercials from Telnames make customers believe the domains can be found somewhere.
 
Future expectations: Although the current situation is really bad, the possibility exists that Telnames creates a directory once.
 
Fantasy: Because .tel is based on the DNS, people believe something new could develop out of this (although no proof exists).
 
Inexperience: Telnames aims customers who have never had a website. They just buy a domain without previous investigation what is the best offer.
 
Confirmed habits: Investors believed in a revolution of telecommunications when .tel was first launched. After spending a lot of money, they can’t give up their hope that someday it will happen.

Do you know more reasons?

 What is the value of a top-level-domain if its domains can't be found?

This question is not easy to answer. Initially I thought the answer was zero. But if you take the Net Present Value of the renewal costs the value could be minus $150- minus $200 at a discount rate of a few percent. 

Didn't crunch the numbers just a gut estimate and assuming no sales and say 5-10 years ownership. 

But if you add in wasted hours by a business setting it up and marketing it to contacts then the value could be minus a few thousand.

Also assumes that you would never market a pro .tel to clients because of the 1970's retarded child of Kremlin janitor's design. 

I assume no one would embarrass themselves or their business this way with just a terrible and unprofessional look and feel which only degrades a company in the eyes of all its partners and customers.

The answer depends on the view:
If you own a non-detectable domain for 10 years, you pay at least $100.
But the registry has earned most of it, let's say $80.

A registry makes good money with thousands of registered domains, doesn't matter if they can be found or not!

i am wondering why the problem of bad search engine performance has not been solved yet
this issue was known in 2009 already