The taxation feature was for being allowed on your land. Now, if you could actually rent access, that’d be a different story. Then I’d concede to a different approach because you could rent access to players who want to mine on your plot.
I will agree that the current regeneration rate seems to be a bit quick given how difficult it is to find resources and how much digging is required to finally find a node.
With that said, and as you said “don’t limit an idea or concept by your current situation,” we have to look at the big picture and remember that this is supposed to be an MMO with (potentially) thousands of other players connecting and trying to enjoy the game. Yes, I want to be selfish and lock down nodes foryself without having to compete for materials. However, if that was a mechanic, how would it look to you, as a new player, if you spent triple my hours of playtime only to find nothing, because all of the nodes were found by the lucky people who logged in before anyone else?
If it was only untouched blocks that would regenerate, this would mean as the population grew and more plots were claimed, that would increase the chance of each chunk to generate ores that were once rare. Then as these new generate seams are claimed, it continues this cycle as more people claim. You are now creating an imbalance of ore vs non ore blocks, and that titanium that felt like a (rewarding) grind has become as common as dirt.
With the mechanics how they currently are, at any given time only X% of each seam can exist. As they are mined out, they have a chance of generating somewhere else, maintaining that percentage