hooo boy how the hell did i miss this thread
short answer, longer answer later perhaps when i'm not making pizza:
within a capitalist system and a system of investment, where investment drives innovation, IP is very important to procure innovation. before IP, innovation happened of course, but the nature and worth of knowledge was esoteric. meaning that the means to reproduce some method or technology or whatever was kept secret. it wasn't illegal to reconstruct some technology you saw elsewhere and if succesfully reproduce just riding it. the point of IP is to get people to do stuff because within a system of capital they're guaranteed income for a while if their innovation is succesful. this basic idea is pretty good.
there are some huge caveats however. first off, IP has been warped into a frankenstein monster of abuses. it has gone so far it no longer reflects innovation and human activity, but is a tool for abuse, whether it be copyright trolls of stuff like disney. secondly, IP doesn't, and has never, reflected human practice of creativity. in the arts, this matters a lot. back in the day, the gatekeeping for income when doing artistic practice was to be able to do it. but with the printing press and grammophone has completely changed that fact. back in the day, people didn't give a single poop about you reproducing "their" piece. today, after art is increasingly storable, this is not the fact of the matter anymore. the resulting situation is complicated, but i'll note that it does not in any way reflect how humans have made stuff for a hundred thousand years, and it's usually bad policy to do stuff against human nature. and i don't mean human nature in the sense of the fallacy of appealing to nature, i mean that the current legal framework does the same to creatives as it would have been doing banning kissing. technology of course changes behavior and has to be taken into account, but when there's a question of artificiality that doesn't serve the general populace, it's time to abandon that crap.
of course, it'd been better if IP was more akin to its first iteration, say getting a guarantee for your creation for like 25 years (no not a goddamn lifetime, stop bootlicking disney) and then it goes public.
that said, the appeals that IP drives innovation is... well, it's kind of true. but it's only true in the sense that people are only able to innovate and create expensive projects when there's investment needed that guarantees profit. the idea that writers and musicians would just stop their practice if they didn't own their stuff is asinine. they can't help but create. it's why they chose poverty in life by virtue of going into the arts.