You can't deny however that any massive undertakings would be effectively killed. No one will invest millions of dollars to produce a video game, or hundreds of millions to produce a movie if it can be freely copied.
It's great that you can make a game or movie on a small budget, but isn't it better to live in a world where we can have both? Does the cost of copyright really outweigh the benefits of living in a society where creative people can devote all of their time producing content?