What's not true is that we'll continue to get the exact same kinds of things created. (Some of you may think that's a good thing.)
Take a feature film, for example. A film costs around $100 million to make, and $20 million to market.
Without copyright, that film can be easily copied by Illegitimate Theater Chain and then shown without paying the creator. Does anyone here think that $100 million films will continue to be made and marketed under such a system?
I don't.
Maybe, as a society, we shouldn't care about $100 million dollar feature films and maybe no one will be upset that they're no longer made in exchange for having no copyright laws.
One thing is clear though: copyright is the legal mechanism that allows $100 million feature films to be made today, and without it, they won't be.