Couldn't have said it better myself.

We are going to end up killing any drive for innovation because the rewards are diminishing and being stolen by people who lucked out by being born in better situations.

This is going to become an increasingly correct sentiment. And as you say, at its core, the issue is how we're dividing land ownership rights.

The great thing about Australia, is everyone knows no-one has an inalienable right to any piece of land. Whehther its been demonstrated by eminent domain from the government, the knowledge that it all rests in this amorphous thing called 'the crown', or, happily, the very active and oft discussed indigenous land rights.

I say 'happily' because in this case the often strained discussions and legal cases around an Aboriginal Nation asserting a claim serves the whole community to remind us that there is always other stakeholders in the land we might have passing control over, whereas eminent domain isn't used widely, or as often, so people tend to forget about it.