You can't trust anyone with power. Power attracts the corrupt, and corrupts everyone else. There is no such thing as a true statesman.
IANA will have some very real power, in the years to come it will corrupt them one at a time or as a whole.
A post above mentions the UN, and where I also believe the control will go in the long run.
Alt.cracks in the early 90's someone wrote of the Internet being like the wild west, I shined it on as I'd been online long before. The more time passes the more I think of that post, the freedom the Internet allowed has been whittled away to where a good troll can now land one in jail. It's just going to get worse - or better depending upon your point of view.