Earlier quoted context omitted.
I don't think we need to kill copyright, but we sure as hell need to control how it's used. To start with, we need to spay and neuter the out of control copyright enforcers, and especially every form of copyfraud. My previous take on the subject: https://news.ycombinator.com/item?id=22488496
I don't entirely disagree with you. I think copyright is insane but it could certainly be made tolerable enough. Most importantly, it needs to have reasonable duration. 5 years is more than enough time for these creators to make their money several times over. I don't think these copyright holders would ever accept anything that reduced their monopoly power though.
I'd say 20-25 years from first publication would be a good time window. If your creation has not become worth anything in that time, it wasn't timely or of real interest. On the other hand, if a creation[tm] does become part of cultural background, 25 years is more than enough to reap the benefits. And at the end of the term, if something is part of the cultural scenery, it needs to be in public domain no matter what.
What a window like that would ensure is that creators can earn royalties over time, but it would prevent the inter-generational rent seeking dynasties. Copyright is supposed to encourage creation, by handing over a strictly temporary monopoly, but also guaranteeing that the monopoly remains short enough to enable culture to evolve.