I would say Tech > Land most of the time. The major reason is that you could bribe AI to shape world diplomacy in your favor.
I will elaborate on this. With early tech advantage, you can
1)bribe AI to war with each other,
i)which gives you security, as they will fight among each other, and you can survive with a smaller army, which translates to hammer saved for you
ii)AI will usually bribe others to war, which makes the world a more hostile place. AI will trade less often, which translates to relative tech advantage to you.
iii)You can disrupt AI from forming close alliance. One situation I do not wish to see is religious buddies trading freely amongest each other, and ally against you in crusades. So, if I see Charlmagre convert to Christianity, I will bribe him to attack Elizebeth, the Christian founder, before they become religious buddies. With no new Christianity spread to him, Charlmagre will eventually adopt a different, less dominant religion. If I do not have the tech power to bribe him. Charlmagre will be Elizebeth's close ally, and when I want a piece of Elizebeth, he will gang up on me.
2)gift to AI please them
iv)Many warmongers won't attack you at pleased, including boudica, bennus, churchill, hannibal, etc.
v) Some warmonger will only fight for you at pleased, including Julius, Napoleon,Kublei, etc.
3)Other less common ways.
vi)Bribe AI to your religion.
vii)Bride AI to stop trading
You can not trade land, that's why tech is diplomatic power. In the long run, land can generate more commerce, but by then AI have already formed stonger friendship, and you can't bribe Charlmagre to attack Elizebeth any more.