Once IO is removed, the IANA will refuse to allow any new registrations with a .io domain. It will also automatically begin the process of retiring existing ones. (There is no official count of the number of extant .io domains.)
Clearly, it is not a “tomorrow” problem. But finding a good domain may take time these days.
What do you suggest? I notice, not surprisingly, that domain sharks (I assume) have gotten the .org, .net, and .com covered. But there are lots of TLDs these days, and with a move I don’t think the second-level domain needs to be the same, so we could also just create a new second-level domain, e.g. hugofoobar => hugofoobar.org (not a serious suggestion).
I think there is no reason to panic, see also this article.
there is at least a chance that .io will be converted to a generic, non country domain, which I suppose would be the best solution.
If the io domain will be retired, gohugoio.com may be a good alternative, most popular TLD with the same name of GitHub organization and haven’t been taken yet.
I do not have immediate suggestions. I wanted to raise awareness. If I have a good suggestion, I will DM it rather than post it in a forum to minimize the chance of squatting.
we could also just create a new second-level domain
That is what I think is reasonable, and I would bet on it happening.
At least a chance that .io will be converted to a generic, noncountry domain, which I suppose would be the best solution.
As a technologist, I think that would be the best solution. However, IANA is a political organization, and I do not expect such a clean and reasonable solution to come from there. If it were my project, I would register a desired replacement and keep it in my back pocket until a decision is clear.
This is such a stupid decision though. So many parts of websites that are not updated have links ending in .io, so many links will break and it will be TERRIBLE.
I think everyone needs to take a deep breath and relax. If there actually is a TLD change, which is far from certain, it won’t have any impact for several years.