Capt Canada.....Yes, I think the "free game" aspect of the keywords, even for National Brands, will be just that, "free game."
During the dotcom era when there were, basically, squatters sitting on national brand name urls, that was a different time. It essentially was the advent of the net and companies didn't understand the process and, and this is key, WERE NEVER GIVEN THE CHANCE TO OWN THOSE URLS FIRST. So when they wanted them, they either bought them from the "squatters" or took them to court to put an end to the game.
However, now in the digital/communication age if the company is offfering a company the rights to a keyword that is their brand name and they decline, then they are out of luck. No one is going to use the number to set up another, say, Coke to compete with soda company Coke. But if Coke doesn't want an 800 number that spells out 1-800-buy-coke etc and someone else gets it, there's nothing to stop anyone from getting the keyword "coke" especially if they turned it down to begin with. No one legally can stop anyone from speaking (texting) a word, no matter what brand name it is. And imo no one can stop anyone from owning a keyword of the same under these circumstances.