Have you been through this yourself? I have, it's not fun dealing with multi-billion dollar corporations who like squashing little people. If they want the property bad enough they should pay the fair market value, plain and simple. This is just their way of getting what they want cheap.
In fairness, I don't think this is the problem. The problem is the one or two people that are holding up a major development because they are demanding 10 million dollars for their $75,000 home.
Granted, there are certainly market solutions to the holdout problem, but I think this is the real sticker...
This ruling is in line with past actions of governments which means it is nothing new and therefore no reason to panic.
Any project which uses federal funds (don't they all?) must follow the rules of the Uniform Relocation and Assistance and Real Property Acquisition Act which requires that market prices be paid for any property.