In turn you'd get other things people spent large sums of money creating.

Eventually you would get no people spending anything on creation because it would simply be cheaper to use something that someone else has already created.

There are some forms of art which can survive on minimal economic returns. There are other forms of art which will not.

There may be different ways to make non-minimal economic returns without copyrights.

If there are no copyrights, who would be stupid enough to continue acting as though there was?