These days, phishing teams run like corporations. They're large, decentralized groups of people who don't know each other and make a ton (3 metric tons) of money. And with that much money comes the usual benefits like foosball in the break room, your very own cubicle, and a slush fund to bribe lobby government officials. And it seems like that slush fund was used to get a new Top Level Domain (TLD) created, .phish.
The purpose of the new TLD seems to be for simplicity. Hacking groups can use the domains for their own purposes. Like SaaS services they sell to other hacking groups, or to get a domain that's already taken in .com, .net, .gov, or even .dev.
We asked IANA why they would allow a TLD to be created for known nefarious reasons, and a representative replied, "The internet is a large place. We have to live together and this makes it easier for one group of us. I'm sure it'll all be okay." He then left on a gold plated hoverboard.
To fully support the new TLD, Microsoft is adding support to automatically trust emails from a .phish domain within Outlook.