It's the time-old public/private issue; with money it's easier because it's fungible. Eminent domain has existed for millennia; this is just an aspect of it.
In general the common result seems to be that for the "public good" the government has relatively large leeway (+/- political pressure) for things like roads, freeways, transit, utilities, etc.
The line gets blurred when some of those are technically for-profit companies like some (many) utilities are. Often the end result is relatively fair for "everyone" but still the landowner is most affected (things like requiring power lines to be buried, or the power company has to build a driveway for the land owner, etc can happen). At extremes you have "town eminent domains your house so Walmart can build a parking lot on top of it."
Some cities plan very far in advance and basically put a "we will buy this property when the landowner dies" lien on it; and wait out the 30-50 years before doing the project.