Considering the number of plots vs number of players, I don't think it sounds bad at all. If there was a plot for every single player to have their own individual house, then sure, but that is not the way it is. Given that there are a lower number of plots vs players, it makes total sense to free up a plot from an inactive player, to allow another player that is active to get a house.
Plus didn't they say something about some gil returns etc...from an NPC? You are basically loosing your right to the Plot if you are out too long.
Also taking into consideration that some of the plots are different sizes, and some are situated more conveniently then others.. ya doesn't sound bad at all , at least not to me.