It's not like it's unprecedented. Patents expire after 20 years. Many people and organizations get very good use out of that 20 year term.
I'm not sure why there's such a disparity between patents (which cost thousands of dollars and expire after 20 years), trademarks (which cost thousands of dollars, and have to be actively defended), and copyright (which costs nothing, is automatic, and expires after your grandchildren are dead).
Patents are applications of scientific discoveries. Other people are likely to make the same discoveries and want to apply them in a similar way, and that's legitimate.
Copyright covers things that are purely creations of the author. The author holding a copyright on something doesn't prevent or restrict anyone, except people who want to directly use the copyrighted work, which they wouldn't have come up with anyway (e.g. even if I write a novel about wizards, it would not be Harry Potter).
I'm not sure why there's such a disparity between patents (which cost thousands of dollars and expire after 20 years), trademarks (which cost thousands of dollars, and have to be actively defended), and copyright (which costs nothing, is automatic, and expires after your grandchildren are dead).