That's an argument for no laws at all.
There are murders so why make it illegal.....
The point is that having laws is sufficient to create the space for a workable business model by limiting piracy.
I take your point there are other models - such as subscription - however not everyone is Charles Dickens and can turn out chapter by chapter on demand, and it those don't work for every genre.
> is still a reasonable price to pay for removing all the abuses of copyright.
Is is? Does it really matter I can't copy Disney films or books? Are we so lacking in creativity that it's not possible to create novel stories or characters?
I think too often IP and copyright are confused. If somebody had the rights to the wheel in perpetuity that's bad for innovation, but somebody having the rights to a cartoon mouse in perpetuity isn't actually holding society back is it?