That's the second time I've seen this argument made on HN this week. Why does that make more sense?
If I start typing in my address bar "g" then google.com is the first completion suggestion. If I want to get more specific, I can type "n" and news.google.com becomes the first suggestion. Or "m" and I go to mail.google.com. If we had to write "com." before any of these came up, it would mean a serious loss of productivity for everyone. The current system provides one or two layers of specificity before the TLD, then as many more as you would like (like /item?id=9357898 on the end of this URL, something nobody will every type) - it's ideal for everyday use even if it doesn't fit into some clean sorting method you're imagining or something.
Because directory hierarchies go from top to bottom - /dir/subdir/file.ext - or, globally, //hostname/dir/subdir/file.ext, or protocol://hostname/dir/subdir/file.ext etc.
That the hostname part's components, as presented to users, goes from bottom-to-top in DNS when the rest goes from top-to-bottom is an accident of history, but one it's too late to change (in DNS). Not everything made that mistake however - Usenet didn't.
As for what you're typing in your 'awesome bar', when you start typing, your autocorrect is ranking your visited history: there's no reason it has to start at the beginning, especially when the beginning isn't the root, but there's also no reason that doesn't make sense.
In fact, drifting back to topic: GOOGLE. is in fact a TLD now. If DNS were the 'right' way round, you'd be going to //google.news - wouldn't that make more semantic sense?
Of course, in practice, we're stuck with DNS the way it is because .com is now firmly in the public consciousness. But it could easily have been different, and if I were designing something new, I'd pick the Usenet way round.
Autocomplete could work the other way around, with "n" finding `∗.news` and `g.news` finding `∗g.news`, after all that `news.google.com` actually starts with `http://`.
If I start typing in my address bar "g" then google.com is the first completion suggestion. If I want to get more specific, I can type "n" and news.google.com becomes the first suggestion. Or "m" and I go to mail.google.com. If we had to write "com." before any of these came up, it would mean a serious loss of productivity for everyone. The current system provides one or two layers of specificity before the TLD, then as many more as you would like (like /item?id=9357898 on the end of this URL, something nobody will every type) - it's ideal for everyday use even if it doesn't fit into some clean sorting method you're imagining or something.
For what it's worth, today is 2015/04/11 :)