In practice, the tenant can typically break the lease with minimal consequence as the landlord (the government) can generally find new tenants, and diversifies risk over many landholdings.
That removes any benefit of confiscating all land and leasing it out while still retaining all the society destroying consequences of this idea. Basically at this point it's just a proposal to confiscate all land and resell it, for fun I guess.
Often 99-year leases (e.g., Hong Kong to the UK).
In practice, the tenant can typically break the lease with minimal consequence as the landlord (the government) can generally find new tenants, and diversifies risk over many landholdings.