It takes a shitload more than $20 million to make a AAA sci-fi or fantasy movie. A $20 million dollar movie that relies on special effects to keep suspension of disbelief would look pretty shit, even if bloody Meryl Streep and Colin Firth were the two mains. My point with the pyramids is exactly this, we have become accustomed to a certain level of fit and finish in the media we consume. While a lot of money that goes into the media industry might be "squandered" in the opinion of slashdot geeks, but a lot is still spent on stuff that needs buying or people that need hiring in order to keep the quality up. Like I said, I'm talking strictly about Sci Fi and Fantasy movies, which have a requirement for special effects, both on computers and in the real world, and often film in lots of diverse locations. You can't do that with a $20 million budget and still have a product that looks amazing at the premiere.
You're right that the little guys won't derive much benefits from the crowdsourcing model, and that's my objection to the anti-copyright people. So you say the current system is flawed (true enough), and you want to replace it? Fine. What are you going to replace it with? A completely new system that might not even work for the media format in question? Suuuuure.