So what? The owners get paid 2, 3, 4 times or more what the property is worth?
The wall with Mexico. Keystone pipeline (a private company). The Rangers ballpark. None of those possible without using this law.
I personally do not believe that fascism is an acceptable model for government. I am partial to the government that our Founding Fathers set up - the one that is based upon liberty. Hey, but if fascism works for you, then Trump is your man. Hopefully, one of his cronies won't negotiate their way into ownership of your property simply because they think they need it more.