Couldn't the tech giants cooperate and introduce a system that benefits the top 10% and exclude the long tail of smaller companies? That could be even worse.
The big boys have portfolios of patents that they fling at each other until some sort of cross-licensing deal is reached, whilst smaller players just have to cross their fingers and hope that nobody decides to tax them too extravagantly.
I omit the possibility of creating non-infringing products simply because it's virtually impossible to bring any meaningful product to market without infringing on somebody's overly broad patent.