intellectual property, including copyright was created by and for monied interests.
It's literally the opposite. The first copyright law was passed in 1709 in England to give authors rights to their works instead of publishing companies. The Stationers' Company, a guild of publishers, had a monopoly over the printing industry, and they we're deciding amongst themselves who would get to reproduce and publish books. They took the labor of authors, changed it however they saw fit, and reproduced them for profit. Authors never saw a dime, and instead had to find wealthy patrons to subsidize their work.
Yes, for the majority of human history, people used to create art with no expectation of ownership, but for the majority of human history, there weren't methods to mass reproduce art. Owning the rights to your books didn't matter when the only way a second could get made is if a monk decided to hand copy it and bind it himself. When the only way to reproduce your painting was to have someone create a forgery, ownership of the physical copy was all that really mattered. If the only way you could get paid for a song was to sing it at the local tavern, it didn't really matter if you got writing credits.
We've already seen a world where the cooperations that control media production can use any work they want. They carved up artists' works like mobsters dividing up a town and kept all the profits for themselves. Maybe if we lived in a post need, post currency society, you could make an argument for abolishing copyright, but in the system we have, copyright is the only protection artists have against cooperations.