I had it happen both ways. Was on approach into KPIE and tower had the jet behind me go around. I've also been re-sequenced in the air based upon speed. I don't think I've ever been told to go around SO close to landing like the OP mentioned. To me that's just poor planning by the controller. You should know long before a plane is about to touch down if your sequencing is wrong. And..if it is, the jet (not the plane that's in a critical phase of flight) should be told to go around.