Well, he had those names in mind, so it is not cypersquatting, it is a measure to AVOID cybersquatting, if his idea is accepted he fully deserves a little prize for the solution he has provided, if it is not accepted, then he'd make a little loss and nobody would care about these domain names anyway.
Since you don't understand what Cybersquatting is, check the definition given on wikipedia:
https://en.wikipedia.org/wiki/CybersquattingThat is just semantics. Yes, it is true that he didn't cybersquat existing trademark, but what he basically did was that bought a domains and then wrote a nice long post how the names he came up with were "best possible replacement name". If you want a known name for that behavior, that can be called as lobbying.
Anyways, this is not the proccess how Byteball gets a rebranding. There is a branding agency hired who will come up with the possible news names (and they will make sure it will not sound stupid in other languages). I think it has been said that community opinion will be taken account for selecting the final one, but I have no idea when that happens.