canīt this be considered a lost comm scenario, where the most appropriate thing to do would be to land and terminate the flight?
Not at such short notice, IMO. There's obviously been a stuff up somewhere, and if you land you take the chance of running into any manner of objects (vehicles, other aircraft crossing).
The lost comm procedure is designed to make sure you give as much notice as possible before you make your approach, so ATC can get everybody out of the way. Making a snap decision to land after not getting a response from the tower 60 seconds to touchdown doesn't achieve that.
By all means try SMC, look for visual signals, but definitely then Go Round if not positive clearance to land.
Think of it another way: IF you ran into somebody on the runway, what would you say to the judge?