Indeed, it is! Accidentally, while testing some random stuff against my IDN validation function, I found out that the word

bullshit

is the result of the Punycode Algorithm applied to the Unicode sequence

U+37F0 U+37E6 U+37F3 U+37EE U+37EC U+37E0.

These are 6 chinese characters from the CJK Unified Ideographs Extension A block. I've never seen before that Punycode results in any meaningful word and I think this is an extremely rare case. So I couldn't help myself to register both xn--bullshit.com and xn--bullshit.net immediately.

I've no idea what to do with it yet - we'll see

The discovery was announced on blog.http.net first.