I mean, IP isn’t all bad. I can’t start selling p*ss in a bottle and label it with Coca-Cola branding. I’d get sued into oblivion. In this particular case, that would be a good thing. It also means that if you find a rat in your coke, you can sue CocaCola. If there were no IP, everyone could make it and it would be almost impossible to know where it came from.
There would also be no widely distributed film, TV, music, books, etc. Do you really want to live in a world where WattPad is the engine of literature?