What happened to Top Domains?

Can someone explain to me why on Earth Snoopily.com is considered a top domain?

The domain was registered in August.

The minimum requirement to be selected is $1k wholesale value.

There is no tld demand. No retail use. No sales history. No trends. No backlinks. No traffic.

No offense to the owner whatsoever, such a name is not worth more than $xx. So how did it get past the selection process?

I think a proper explanation from the mods is needed.

What happened to Top Domains?