Now. Why is the first point about the size of the industry relevant? Unless you're talking about their ability to bribe...I'm sorry..."lobby" Congress to pass the laws they like? That shouldn't happen anyway, regardless of their size. Laws should be passed on common sense and what's good for the people at large, not based on how big is your bank account.
What is dubious about his argument about copyright? First off, copyright is not "property", and shouldn't be treated as property. It's more like a permit. The government allows you to use a certain idea for a "limited time period" as it says in the Constitution. Unfortunately, because of the bribing..sorry, again, I meant lobbying...the "limited time period" turned from 14 years to almost 10x more. That doesn't sound limited at all to me. Copyright was meant as an "incentive" system - not as a welfare system.
Ideas can and should be reused. Whoever gets something copyright, most definitely got "inspired" or copied parts of someone else' ideas. That's why there isn't really something like "intellectual property", because nobody owns an idea 100%. And since you used someone else' ideas, you have to get paid for whatever you added only for a limited period of time, and then allow others to benefit from it, too, and expand the public knowledge. The whole point of the copyright system was to benefit the "public". It doesn't say "the creators" in the Constitution.
The fact that you dismiss DJing and remixing so easily shows that you have zero understanding about why fair use even exists in the first place. I suggest going through these, and hopefully it will change your mind:
http://www.youtube.com/watch?v=83lhAlmp5vY
http://www.youtube.com/watch?v=xyf_0SMAsFA
http://www.youtube.com/watch?v=7Q25-S7jzgs
http://www.youtube.com/watch?v=zL2FOrx41N0
http://www.youtube.com/watch?v=yAmmtCJxJJY
http://www.youtube.com/watch?v=wq5D43qAsVg
And here's a law professor discussing some of my points above such as why copyright is not real property: