Welsh TLD?

I've just heard about a campaign called dotCYM which is campaigning for a top-level domain (TLD) for welsh language and culture sites on the Internet. They've been spurred on by the successes of a campaign by Catalans's success in getting a .cat TLD set in the Domain Name System, and now there's also been an Early Day Motion put down on the matter.

I'll be honest I'm not sure exactly what to make of this. Adding TLDs to DNS on the basis of say lanugage sets worrying precedants, what next? An Esperanto TLD? There is also the fact that .uk does actually cover Wales already. If Wales is to effectively get it's own TLD will we soon see a .eng .sco and .ni as well?