Isn't this the case for nearly all money-like assets? E.g. stock has very similar 'land grab' properties. This is almost entirely the businessmodel of VC and AI.
Yes, it's very problematic. The last time those screwed up, something called Bitcoin was created by someone who really hated the idea of bailing out that corrupt enterprise.
People play along when they benefit too. When they no longer benefit, they take action to take it down.
Not really because investors are committing resources to the business which, it is hoped, will deliver value greater than the amount put in. Merely owning land doesn't help the land improve and deliver any value.
People play along when they benefit too. When they no longer benefit, they take action to take it down.