Getting a TLD up and running would cost a LOT more than $200k - you have to create a SRS registrar, billing, email systems, security, Who Is, etc.

You may be able to subcontract these to SrsPlus (like I do) or OpenSRS, but you would still have to go through $50k bond and testing.

I have been thinking of this for quite some time and have some great ideas of how a dot JS should work. Please contact me Ric @ my account dot org