You're living in a fantasy world. You're looking at the status quo: some guy has invented a better floating point circuit, and you think there are two options. 1) The guy releases it to the public for general use, or 2) the guy patents it and holds a monopoly over its use.
Obviously 1) is a greater public good than 2), but in reality these are not the only options.
Here's some other realistic situations: 3) With no incentives to make things public, this guy either stops working on this much earlier, doesn't tell anyone, or throws it in the garbage. 4) This guy goes and talks to Intel about his design. They quietly pay him some money or hire him and implement it in secret. Two years from now they launch a processor with this feature and for the indefinite future, until their competitors spend costly time reverse engineering the secret hardware, only Intel processors have this circuit. 5) Same as 4) except Intel says, "Haha, thanks for being a sucker" and doesn't pay anyone.
This is the patent system at its best: incentivizing some guy to work on this invention, then publish his work and describe it in detail. For the next 20 years, he can license it to anyone he wants and profit from his work. After that point everyone can implement it as a public good.