From a non-expert: is there any reason (other than consumer packaging and polish) that a system like this couldn't be rolled out immediately, with ICANN as the default provider?
There are a lot of stakeholders involved and a lot of applications relying on DNS may have problems (browsers).
So the migration path is long and winded I guess.
Other than that, no.
GNS itself could also be realised on top of other DHTs, such as libp2p/IPFS (before anyone mentioned the, eh, maturity issues of the reference implementation in GNUnet.)
There's no technical reason it couldn't, but a big non-technical one: it doesn't allow for the rent-seeking behavior that supports ICANN and the internet name industry.