If you abolish IP youtubers will not be able to make money because if I rip someone's monetized video and host my own ad-free copy, people will prefer to watch that and seeing as there is no legal claim over their IP, the youtuber has no recourse to get me to take down the video. There you go, I just divested a youtuber of a potential revenue stream.

This is why people who favor IP argue that it stimulates the creation of creative works. Look, whether we like it or not, everyone needs to earn wages in our system. If you can earn wages solely on creative works, you are empowered to spend more time and energy on those works because they give you a direct return. If the return on creative works becomes effectively zero modulo charity of consumers, you will have way less resources to devote since now you need to spend them making wages in other ways.

I am all for an IP free world, but I think it requires a fundamentally different economic reality from the one we currently have.