The oversight burden would be too much for the IOM, they are a small unit within the IOM DTi, commercial ops is not where they want to be.
They are looking for professionally run private operators, they have initially contracted out their airworthiness department to Baines and Simmons to give them the full functionality from day 1. But the fact that they have subcontracted away (for the time being) 1/2 their ANO so to speak gives you an idea about the scale of the IOM ACR
They dont want to become the CAA - thats a good thing
Now if a large fractional Subpart K operator decided to commence ops / switch over to the IOM then they might look at it.
Its a prestige thing that puts the IOM firmly in the front of CEO/Chairmans minds. The IOM superyacht register has been a tremendous success, with nearly 60 yachts registered and the A/c registry well on track to having 100 a/c registered by the end of 08