How can this possibly work? As a searcher, I want to know what site I'm going to, not what the site is 'called'. I definitely want to know whether I'm going to Widgets.com or Widgets.xyz, for example. Otherwise widgets.xyz is now equivalent to the .com in results.
I suspect it will be tested and then dropped. If not, it's a disaster for all of us who've invested in premium domains, a bonanza for webspammers and it will cause massive confusion and wasted time for searchers.