I agree.
I understand the purpose, though. It takes time and effort to develop ideas. Odin forgive me for sounding like I'm defending the pharmaceutical industry, but it can cost hundreds of millions of dollars in salaries, materials, and everything else to develop a product. Without IP, someone else will just take the result of your R&D and go straight to development and selling; you make the investment, they profit. So, what's the alternative? How do you get people to dump vast amounts of money in research without giving them some mechanism for recuperating their costs? Or will everyone just suit around waiting for someone else to do the research, so they can snatch up the results and start selling product?
Personally, I think R&D should be done by public institutions and funded by the public, and then be IP-free. I'm not certain that it would be a complete solution that replaces the system we currently have, though.