It seems wrong that a decision 400 years ago has bearing on people today.
In the UK it's even worse -- much of the land is still owned by the families that were mates with William the Conquerer back in 1066. About 1500 years ago the king fell out with some landholders (monasteries) and confiscated it, giving it to his mates, who still own it.
Land should not be owned, it should be rented from the people. You improve its value? Great, you shouldn't be charged for that, but the unimproved value of that land is something that should be of benefit to society as a whole.
How would you feel if companies started to divide the available drinking water or breathable air? That rich people controlled who can drink or breathe? And that inheritance determined your odds of survival, not based on genes but on access to basic resources?
It is OK if hard work is rewarded with money.
However, it is not OK if people use that money against the rest of us, who made different life choices.
Since land is a limited resource, there is a problem there.