E.g. pinnochio was released in 1940 based on a book from 1883. At the time the original book was published i believe copyright only lasted at most 42 years. It seems unfair that disney got to benefit from short copyright terms in the beggining and long copyright terms at the end. Nobody likes to see soneone eat their cake and have it to.
The cartoon had very limited distribution on film, I saw it at a university showing. Disney would distribute Donald Duck and etc but back then all the Mickey material was kept on the shelf for some reason. But then the "Mickey Mouse" law made this notorious.
I doubt you have any problem with people profiting off of Shakespeare, Mozart or fairy tales, so what is different about Mickey Mouse?
How many of Disney's cartoons do you think were based on public domain works?
Great artists build upon the work of those who came before them. This is how it’s been for millennia. Why should Disney be the end of the line?
All this adds up to the fact that established characters are already effectively part of the public domain. A perpetual monopoly on children's culture is both unnatural and unjust.
Disney still benefits from trademark law on their characters along with a generous monopoly on new creations. I would argue that extending this further would reduce the incentive to innovate.
I don't know what the parent poster had in mind, but in my view losing most control by now is absolutely right and proper.
We progress because we're able to build on what previous generations built.