It encourages creation of new works just fine, but at the expense of creating billions of tiny monopolies that last for generations, which get aggregated into huge monopolies, ultimately making ordinary people into criminals for wanting to preserve or modify the works that make up their culture.

My point is that it doesn't need to do that. Copyright could still encourage creation of new works with a much shorter duration, without the downside of locking our culture up in monopolies for life + 70.