A delay doesn’t even really hurt this use case. The first person to register the domain would still get it, 24 hours later, unless there’s an actual objection.
Who defines "actual objection"? The entrenched interests are really good at tilting such processes in their favor.
I think the "actual objection" is the hardest part.
The UK Government might legitimately object to the registration of `dwpgov-uk-payments.pizza` but should they be allowed to object to `dwp-gov-uk-stole-my-payments.fart`?
One might be obviously dodgy, the other is someone ranting about their experience. Do you think Governments should be able to object to domains complaining about them?