Isn't this the same argument pharma companies make in support of drug patents? Huge R and D can't be recouped if a third-party takes the formula as soon as it is published and then undercuts on price, without having to worry about recovering the capital investment.

I agree with you, but I think this also makes a great case for any sort of proprietary period for things that require immense upfront costs (be it time, money etc.) which have very low costs of execution.