imo copyright should last 30 years from creation. Thats plenty of time to make a profit and it also allows things to fall in to public domain while they are still culturally relevant. Currently anything made within your lifetime will not be public until well after you have died which is a shame. It would be great if all of the past content which is now slipping in to irrelevancy could be revived by the public domain.
Would it though? Go see torrents that are 10-15 years old and look at how many are still being seed.
Sure making it legal to distribute will make it easier to go on more device, but hosting content is not cheap. Web Archive is trying to host everything they currently can, and it doesn't seems that easy.
They are slipping into irrelevancy because there's something else to consume, that's all. Removing copyright may bring them back a bit, they would still slip into irrelevancy, because the same reason will still apply.
People want fresh content, that's actually a huge reason which push people to pirate because they can't wait for the content to reach streaming platforms. That's all.
I would love for copyright terms to be shorter though. As a native french speaker, there's so many translation from my youth that are lost in limbo because of copyrights. I'm from Quebec and to preserve Quebec translation of Pokemon, I had to buy a bunch of VHS and I'm about to digitize them to preserve them.
I think a reform of copyright that consider theses things should be made. If the content isn't available at all, there should be a way to consider it public domain. How can you consider it good for profit when a work isn't being profited on. After a set amount of time, if there was no way to consume the content in a reasonable way (because I'm sure company would simply say that they would be happy to sell license to the content for 7 figures), that it should go to public domain.