I think it's an excellent business model and even has the incentive to help and encourage small time inventors who do not otherwise have the budget or know-how to implement or protect something the invent.

Otherwise, corporations with huge budgets are the only ones that benefit from the patent system.

But this comes with a big "if".

IF the patents were actually novel. IF the patent office was actually doing its job and enforcing its own rules that a patent should be for something novel and non-obvious to people in the applicable industry.