Although I am unsure, it seems highly likely that IP rights where lobbied for by corporations and not individual artists, which should tell you something. Myself. a publisher and musician, have mixed feelings on the subject - yes, of course IP rights are useful to me but the resulting propagation potential of file-sharing is hugely appealing also. As a musician that is my primary goal - spreading the word so to speak. That is more important to me then loafing around by the pool in my gold underpants - although, of course, I would not mind too much.
Copyright is more a capitalist function than a moral one but as a publisher I require money and so have had to find other inventive ways into market and alternate revenue streams.The moral principle for copyright can always be argued for its primary economic function is fast becoming outdated.