Sure, today, it means a lot that e.g. e-ink screen technology is patented. But once the patents run out there will likely be a cambrian explosion. In the 2040s, who will care about it? Do we care which semiconductor company in SV had a tiny edge over another company 50 years ago? There is so much acquisition, merging and bankruptcy going on that in 200 years, the landscape will be different. Check how many companies managed to stay in the DJIA since its founding in 1896.
This is nothing but speculation, but every major evolution to something having a forced 20 year gap before the next major evolution can be made seems like it would have big effects on the long term too.
I do think software engineers probably have a uniquely cynical view on patents though - software patents do tend to be more spurious and ridiculous than in other industries.
