Earlier quoted context omitted.
So he is referring to copyright. Books do the same thing, do you find books abusive as well? I don’t quite buy the leap that “software companies being exploitative” is at all related to “protecting IP through the use of copyright”. Cory does not link the two successfully in my mind.
If you read the essay in full, you’d see that he distinguishes between copyright laws meant to encourage authorship and what is currently meant under the “IP umbrella,” which is more about protecting monopoly power.
Monopolistic practices exist with or without IP laws, terms of service, etc.
Take a look at some other industries: energy companies have protected fossil fuel exploitation and stifled research and adoption of nuclear and green alternatives.
Finance industry have maintained monopoly and avoided regulation despite there being obvious harm to their practice.
These behaviours are related to capitalism... not intellectual property.