There should be still a legal limitation of presenting your product as something it isn't. So maybe trademark law is actually the one thing that should remain of IP laws.
But patents and owning characters in fiction and copyright kill any beginning they touch with the wrong end. There's so much ingenuity and development out of existence, usually out of discussion and often even out of imagination just because of these laws.
I mean, I think we can solve it in other ways - like verified supply chains and other voluntary solutions. This is the same solution I'd give for the other forms of IP. Sort of like using only union labor, by contract, for certain things. You provide mechanisms to verify creator effort without fucking over someone selling random shit on a street corner.