Sure creative people will always create but the scope of that creativity will be limited if we do away with intellectual property. Steve Spielberg would probably always have created movies, but he wouldn't have been able to make Jurassic Park, Saving Private Ryan,or Indiana Jones without capital from the studio system, and the studio system wouldn't have provided him with that capital of they couldn't extract economic rents from the copyright for those films.
I think a limited, short copyright can do good that the current many-year copyright does not. Imagine a 1 year copyright in the context of film. Companies would prioritize box office sales no doubt, but that’s how it used to be and it was generally positive. It’s really the extremity of modern copyright that I think causes these issues.
Do we need to always have big-budget films and productions? Perhaps we should live smaller, and enjoy local art and low-budget films. Do I really care that Jurassic Park was made? I could read the book and it's more detailed and imaginative anyways, and any lessons to be learned are definitely better when read than when watching a blockbuster CGI film with more effects than message.
"Let's create a world where all TV and movies have the production values of Public Access" is a poor pitch. Even if you don't mind that, you have to understand that, politically, it's a non-starter.
They could have started a crowdfunded project and might still have made a great movie. If people truly like the created movie, why noch fund another one? Only no one would be paid millions for acting most likely, and that would be fine.
