I am not too worried about land prices per se. More worried that there is only so much market demand for this product, and spreading it out over numerous streets in the neighbourhood will mean we never get a truly completed Main Street. Kind of like how we don't have a truly completed TOD. We might end up with only 2-3 more buildings along Edmonton Trail, and 3-4 scattered along 8th Avenue, 12th Avenue, 6th Street NE, etc... Meaning none of them are "finished", as there just wasn't enough demand for the amount of 6 storey (or higher) buildings planned in the area.Zoning doesn't flood the market. In fact, it will LOWER prices for land to build 6 story units, which all other things being equal should lead to somewhat higher demand.
It also isn't council's job to maintain the price of land speculatively banked for development.