So it's ok for a government to just take something from you without compensation?
absolutist ethical questions devoid of context are usually meaningless.
I believe the Federation's actions in STIX were ethically "okay," BUT I do think they would have been a lot better had they negotiated with and offered compensation to the Baku.
Again though, the reason that option was NOT pursued is because the movie didn't want to give us a situation where the Baku refused to move or negotiate, and then Picard is left defending a group that the audience has little sympathy for.
The bottom line is that the premise was flawed to the core and needed to be re-thought.