Do you think that this is not true of other engineering disciplines? For instance, can an auto maker build a new car without infringing tons of patents? What about robot makers? Airplane manufacturers? Do you believe that nothing that e.g. SpaceX (or your favorite innovation shop) is working on is worthy of patent protection?
> Do you think this is the way property rights and software ought to work together?
This consequence is clearly horrible. However, let's say there was an innovative physical device (with no software) at play instead. Then we'd say that's exactly how property rights work. We'd presumably be happy that in a few years the rest of society would have access to the device without paying the monopoly rates. The point is the monopoly is an incentive that helps an inventor take an idea from concept to useful product. If the idea had value by itself, we could use my idea for a cancer cure and be free of it tomorrow. (Unfortunately, I am missing the useful -- patentable --parts of the cure.)
What specifically is so different about software that would make it unique among engineering pursuits as the only one unworthy of patent protection?