Over time, since many inheritors won’t have the cash to pay the tax, they’ll sell the farm. The transfer of ownership may see farmland under the plow decrease with less food produced and higher prices for the food that’s left.
Bureaucrats are not deep thinkers. Once they see new dollar (pound) signs, mental acuity goes out the window.
I think they know what they are doing. They are helping big ag corps acquire the land cheap.