It doesn't matter what the reason for its creation is, you can make similar arguments about laws against assault and murder or the right to vote, what matters is what it's doing in the current legal situation.

If you think that the end of copyright will suddenly render corporations powerless, you are beyond naive. Some will fail to adapt, undoubtedly, but many will not just adapt, they'll be able to take full advantage of this new situation. Copyright isn't the only mechanism they can dig a moat with, and as long as the economic incentives remain what they are, they will find a way and be no less exploitative. Meanwhile, the individual creator or indeed projects like Linux will lose what little protections they have and be completely at the mercy of these monsters. Forget exploitative contracts, they can just exploit you without one!

A better world without copyright is possible, it just doesn't look exactly like this world, except without copyright. The abolishment of copyright is not an ideal, it's a means to an end. But for those means to lead to a good end, how and when it happens matters. To cheer on a development because it nominally achieves what you believe is needed to lead to your ideal outcome, even when the way it happens would lead to an outcome that is in direct opposition of the ideals that lead to that belief in the first place, is a sign you've stopped thinking.