There is nothing that makes sense. The world population is about twice the total number of IPv4 addresses total. Many people own more than one device, and there are good networking reasons that you want most of the possible addresses on any network segment unused. There is no way to solve all of those problems at the same time and so nothing make sense when we are talking about IPv4 and it never will.

Or perhaps we should be distributing the land more fairly.

IPV4 per traffic usage would make even more sense.