Does the same reasoning also imply that the government should get all physical property 100 years after its creation? If not, what makes that case different?
If we're talking about physical property like, say, a single-family home, the only question is which family is allowed to live in it.
If the physical world worked like copyrighted creations, we'd be able to give every family on earth a copy of that home to live in, for free. And while that would still have downsides for the heirs of the builder (with infinite supply, they could no longer rent out their own copies of the home for a profit), the total utility gained by humanity would easily justify that step.
https://en.m.wikipedia.org/wiki/Agrarian_Justice
(While I think the right of commons should have a higher institutional standing as a legal entity, I’m not convinced it should be conflated with the government. I would probably like to see constitutional writings limiting what rights a government would have as a custodian of the commons)