Very strong and brave to steal from individual artists, as no copyright violator box is trained only on material from giant corporations and out of copyright works.
I guess as someone who has received IP royalties for my work, I feel a little more aligned with the original intent. When it comes to major corps using IP to hamstring prices and progress I agree with you, but on the individual scale it works as a decent incentive to share your work.
Just like most systems, at an individual level it can work for the individual. However, that's in the context of the current, IP beholden system. Alternative forms of property ownership and control have alternative mechanics, solutions, and problems.
It would of course not be fair at all to outlaw IP at the individual level alone, without outlawing IP at the corporate level as well.