While I think it’s also a good idea to reduce the copyright lifetime, it should be different for physical products than virtual products. For example, it would make it difficult for a business to survive even if they come up with a successful product, as other manufacturers would be entitled to make the exact looking product once the short copyright/patent period expires, especially if eliminated altogether. The last thing I would like to see is electrical shops having hundreds of identical looking products with manufacturers simply copying each others designs.
For music, this would not be such an issue, especially if the artists offer downloadable music as promotional material that people can freely share with each other. Sure, this would potentially mean that other musicians could perform their work without paying royalties, however, nothing beats going out such as to a concert and seeing the original artists perform their work live.
For games and movies, a certain copyright lifetime must exist, e.g. a minimum of 1 year If someone creates the perfect game or movie, they will earn their fortune within the first year, if not within the first few days, where as a not-so-great may never earn this much over a 100 years if the copyright lasted and was enforced over that length.