This concept can be generalized to any form of property. I really think the block chain, and its ultimate use for this purpose, and the fact that you need bitcoins for all of these transactions, is the biggest asset that the bitcoin system has and will ultimately prove to be the thing that ensures bitcoin has intrinsic value.
Bitcoin developers were actively against storing data in the blockchain. Or is the name data you are proposing stored elsewhere? Mike Hearn outlined
an approach for doing merge mining using naming as the example where it doesn't use its own blockchain if you're interested.