> So maybe it's inexact to call it "capital" vs. "labor", but... a class of people is dominating.

Not sure about 'class'.

But the policy implications are quite different:

Land value taxation can capture all that extra rent going to land without hurting the economy one bit. See https://en.wikipedia.org/wiki/Land_value_tax

By contrast, taxing capital is a really bad idea. Eg capital gains taxes hamper productivity growth.