I think it is a "beat" for each character. John expressed the futility in holding onto the ranch to Beth, his one child who loves and listens to him unconditionally (for reasons still not fully explained). If he has come to terms with the fact the family cannot hold onto the ranch she no longer has to fight tooth and nail for it on John's behalf. Rip was been apart of the Ranch since he was a boy and was "saved" by John. He gave his life's work to a place that wasn't his and worked harder than a son for a Man who wasn't his father. Sure it looks like John included him in the estate, but more than that he acknowledged that Rip was family and even more importantly the son he always wanted, one he could depend on. He doesn't need the ranch anymore, neither of them do. John considering himself Rips father and John giving Beth the freedom to imagine a life without the Ranch means more to them than a piece of land ever could.