I'm all in favor of reverting copyright terms to what they were before the Walt Disney Corporation was founded, but I think the idea of having a limited time to profit off of your creative works in order to incentivize their creation is still a sound concept.
The original agreement was fair to both creators and society and would never be remotely palatable to today's industry of middle-men and rights hoarders.
I wish we could have it back. I would feel a lot better about "intellectual property", morally, if we did.