Patents should have reduced with product lifecycles, copyright should be a similar period; maybe 10-14 years.
My personal opinion.
Does it have flaws and can it be improved upon? Sure. I think society underweights what improvements to the patent system in particular could do. But such ideas are so niche they are hardly even written down, let alone debated at large. Society has bigger issues on its mind.
Like any evolved system IP law encounters new challenges over time and will be expected to evolve again, which it will surely do. A simple fix for Copilot is surely to just exclude all non-Apache2/BSD/MIT licensed code. Although there might technically still be advertising clause related issues, in practice hardly anyone cares enough to go to court over that.
No category of intellectual property covers thoughts, so the question has no relevance to the preceding statement.