I've always thought of a fiasco as a series of FUBARS, each compounding the last. Not sure I know a term for series of fiascos. Maybe GoDaddy are breaking new ground here.
It's pretty cheap, I thought. It sucks if you have a ton of domains, but transferring over also renews the domain for an additional year, so the transfer itself really costs basically nothing. I just transfer whenever it's coming close to time to renew my registration anyway...