I'm just guessing here, but in the beginning you had 4 choices when registering a domain name...
.com = commercial
.net = network
.edu = education
.gov = government
When you couldn't get a .com you would reluctantly settle for a .net, as it still made a bit more sense than .edu or .gov
Nowadays you have lots more options if the .com has been taken, so I don't know the answer either.. I would think .biz or .info would be at least as good as a .net for a second choice.
Let's see if someone knows...
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