Since that new novel would be granted an exclusive monopoly period, and the author now has significant notoriety.
So, since the explicit goal of the system is to incentivize _new_ works, and this system incentivizes _new_ works in that scenario, it seems like an explicit success of the system, rather than a problematic example.
In the current scenario, at step 4. the author can simply retire on the success of those previous books. That _fails_ to incentivize new works. So I'd argue my proposal works _better_ at the goals of copyright in this scenario than the current system.