Just a quick counter-argument. I'm not trolling, but I am playing devil's advocate.
Did you know that those same copyright protections apply to you too? Why get all upset because you can't legally use Mickey Mouse (since you brought up Disney) when you could create your own intellectual property and then leverage it for your own gain? You have all the freedom in the world to give your music away... or not. You are choosing to do so because it's a good marketing strategy. If things were as they were 10 years ago before you had the ability to distribute online you'd be trading tapes. But you'd also be sending demos to labels. Because that was the way the system worked. They were the arbiters of culture. But with the Internet, that's no longer true.
So while you're busy giving away your music, you might also look into music licensing and other ways of monetizing things. If you're leaving money on the table, willingly, that's on you. If it makes you feel good to give your music away then congrats - that feeling was brought to you by copyright law. Because you had the OPTION to give it away. You also have the ability to sell it, to make money from future covers of your, to draw royalties on your work, and to deny others the right to record your work (say, a political candidate you disagree with). You also have the option to sue, should somebody take your music without compensation.
This is an important right. Surely you won't argue that an artist shouldn't have the right to sue to protect their own intellectual property. So what we're talking about here is duration and damages. The way it's setup now -- it's plain to see that the duration is too long and the damages are too high. But that's what courts do: they decide what's appropriate. It doesn't matter what the labels say. Because Limewire probably says they want to go home scot-free with their attorney's fees paid for. How is that any less of a total over-reach? The right answer is some place in-between. And that place will be decided by the courts.
Now if you want to complain about courts that's a whole different topic.
Like it or not, the economic system we have here isn't going away. The stuff you're saying - I more or less agree with, but I saw the same stuff being written a decade ago about the exact same thing. Certainly copyright is a pain in the ass. Certainly it's being leveraged by large multi-nationals for their own profit and nothing else. But these aren't outsider positions anymore to say these things. It's just the general position of those who think they're getting fucked.
All I know is that a decade ago I had to go to Blockbuster and rent a video for $4 if I wanted to watch something. If I wanted to listen to a song I had to spend $15 and buy the whole CD it came on and just hope for more good songs on the disc. Now between Netflix and iTunes (not even counting torrents) all of that stuff is available to me in a more convenient fashion for less money. So how exactly is the consumer losing here?