It seems to me that a LVT eventually leads to 100% of the land being owned by the super wealthy in dense areas. It's a state sponsored transfer of wealth. It still results in a middle-man that leeches money from renters, and the taxes would most likely be passed onto them.

In this case, why not just be direct and have the land owned by the state, and have density requirements for use of that land based on population of the area?