Besides that, artificial land is nothing new, a good chunk of NL was made by manipulating the sea. Even so this is clearly a 'landgrab', but not much different other than the time in which it happens (the present, rather than a few hundred years ago). NL did it with the colonies and plenty of other countries did it too. A lot of that has reverted over the last 3 decades but there are still quite a few remnants such as Cyprus (claimed by the Turks and the Greeks), the Falkland islands (UK vs Argentina) and a whole bunch of smaller ones.
The world map will always be in flux due to territorial disputes like these, in the end it is all about money.