I didn't think about it much, because it is a bit of a joke; if everybody owns it, then nobody does, which suits politicians just fine.
But the major churn of populations improperly labelled free market in some fashion isn't- this is doing unto the people the very same thing bureaucrats did to nobles, kings, private property owners, and just about anyone else with some sort of authority.
They've even done it to parents.
And the current libertarian conversation is the same anemic refusal to face reality- a city was private property, back before civil rights legislation and newfangled immigration laws it was actually plausible to believe that you could build a statue, a building, a university, etc...- on city property and expect your descendants and your relatives to keep control of those assets, because they were the voters there. Under more normal circumstances, citizens might actually get to throw the bums out, or throw the bums in jail.
Surely this is the metastasis of bureaucracy. It was given the opportunity to grow when the kings decided they had divine right. The bureaucrats helped the king destroy the nobles, and when the king was little more than a signatory, they got rid of the king. The various flavors of socialism were the tumors. But the nations under communism had a problem- nobody wanted to go there, so the bureaucrats could only steal so much.
But here in America, just keep churning through people. I don't suppose there were any black cultural markers torn down in Compton as the Latinos took it over. Does it occur to anyone taking down a Lee statue that a similar fate awaits their statues?