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What is the downside to limiting all movie and software copyrights to 10 years?

Source code and materials etc can remain trade secrets if desired?

And all IP with a movie as well - including characters. This would stop a studio from forever milking the same piece of IP forever.

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No, the opposite. To be protected by copyright, sources must be uploaded to a Library of Software.

Downside: Movies will be made to not last; Software will be made to be incompatible with everything on a 10-year timeframe; and the country who enabled this open mindset will displease its copyright owners who will move to the other countries.

One downside is it would motivate companies to get intellectual property registered under a trademark with indefinite protection rather than copyright. Even with our current lifetime + 70 year protection we have companies like Disney getting characters registered as a trademark.

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