I don't know much about how ICANN works, but if the below is true:
...then that is alarming. Are you telling me that companies and private organizations have more say in this than governments will when this happens?
IANA and ICANN are private US entities, one being a subset of the other. See
here. They've always been private orgs that work with gov'ts but ultimately it has never been under US
government control, but heavily influenced and run by private US companies and orgs. This won't change during the changeover today. Take a look at
this governance page of how ICANN makes decisions. Looking at all that data, you can't possibly tell me you believe that even if China and Russia had "influence" over what's in the root zone file (as they should) in the form of a vote, how can you really think they can stymie a private org or private Virginia companies like Verisign from keeping the Internet open and honest? There's also no incentive for Amazon, Google and Facebook to support moves that would make the Internet less open, and they pushed hard for this.
Basically, it's conspiracy theory bullshit.