The .com gTLD will certainly hold its value for a while along with proper ccTLDs. I was thinking more about the new sTLDs (I like that one). I can't see an endless supply of sTLD being dumped on the market as any way to drive the domain market.
The people in my company's trademark protection group have already indicated that they will probably reduce outlays for domains under this system.
ICANN has not created a new goose that lays golden eggs with this move, rather they have likely killed the one they already had.