Patents give an incentive to actually do the R&D for new products and projects? How would you feel if you spent millions of dollars and 15yrs designing a product and then some random dude just buys one, reverse engineers it and undercuts you? It basically disincentivizes anyone from doing any innovation since the game theory would be to just wait for someone else to do it and then take it for your own.
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The fact that you consider it so black and white tells me you aren't thinking critically. Yes, the patent system can and has been abused over its long life. Literally every legal system has and will be. That's how it goes. The struggle is how to come up with a system that minimizes the loopholes while not entirely crippling the things they are intended to protect.
Without some protections on human creations you end up with a war of who can steal the most ideas vice who can make the new best thing. You end up putting resources toward protecting your ideas and keeping them entirely secret, which arguably is worse than a public patent everyone can review and be inspired by.
I'm not arguing that they have no downsides, I'm arguing that the position of "it's all bad, get rid of it" is reductive, at best.