Does it?
Yes, 100%. Can't really discuss further due to forum rules.
it's not really clear what particular good that would be expected to do in the long-term.
Money is a proxy for people's time. Making goods/services cheaper gives people back the very finite resource of time.
But you two are also ignoring the "indie" musicians, artists, authors, and innovators, who don't work for, or are not endorsed by, big media corporations, but seek to get NOTHING, and can claim no monetary reward, for their work, if IP's are abolished - whereas big media corporations will always find a way to get something out of their creations, or the creations of their employees or those they endorse.
That's a different problem, one that I leave for other people to solve. I can't fix everything. I also haven't called for IP to be abolished in the first place, so it's a bit a strawman problem anyway.
Also, IP laws help prevent someone else from just "mashing," in an unauthorized, and even aberrant way, the original creator's work into theirs and having declared, or be recognized, as "legitimate," in terms of the "integrity" and "cannon" of both works, and not just a flimsy parody.
That's already a problem for Beowulf. A work not being in public domain is, for any work, a very temporary state of affairs.