If you already have a .com domain that all your customers are familiar with, its not like you can just switch to a different domain. _Maybe_ I could excuse this if it was only for new registrations, but left the price for renewals the same, at least for existing domain owners.
If you run a successful restaurant paying for "protection" to mobsters is a negligible cost to keep your business running (and your kneecaps not broken), but that doesn't make the racketeering acceptable...
If your business is at a desirable address that customers are familiar with, and have visited for years... should you be entitled to 4 different landlords available to negotiate your next lease? Might be a nice thought but it's not a reality. You've got one landlord, make peace with that, or move.