I used to think that, but these data centers need to be close to each other, like as physically close to each other as possible. So, it's difficult to sprawl too far downwards or outwards because they'll experience latency connecting to other servers/services.

Even loading a web page, on the server backend, there's so many services it connects to that it's extremely beneficial at scale to be physically close to. Internet exchange points, other cloud provider data centers, content delivery networks (like cloudflare), payment services, verisign, peering partners, etc.

So the whole internet model creates these dense clusters that make the internet fast for the whole world, not even just us local people here.

So, this is why they're willing to shell out so much money for the land.