16:25 "In general Land Value had some significant improvements but it's not all the way there."
However, he never elaborates on that. After talking about the new influences on land value that have been included (ie proximity to parks, etc), he moves on to the minor bug fixes. He mentions the ongoing problem with silly household types (ie teens living alone) complaining about high rent (~18:22), and he talks about the ongoing problem with taxation generating far too much income (~19:08).
Nowhere I can find does he say that the land value system is capped. What I see is that CO included the land value sub-system that was simply absent at launch, that at first glance seems to be working, at least on new builds (CPP had to "whack-a-mole" some existing buildings in Magnolia County). In that case, the Land Value bug has indeed been fixed. It may require tweaking over time but that's not a big issue.