I think the idea runs into the problems experienced by newly-developed rural properties. Small, privately held parcels of land are absurdly expensive to service. Power, water, communications, sewage, food, waste etc. are easier to provide to people who live close together. And then there’s the problem of a social hierarchy of needs. People need someone to turn to in an emergency, input into their immediate environment, and focal points. In that sense land can be cheap, but places are innately costly, not just financially, but socially and historically.