Also, what makes you think we don't already have "massive legislation to cover every facet of our lives"? Have you ever heard of the book "Three Felonies a Day"?
Increased legislation is rarely the answer. I do not have a pre-rolled solution for the 'patent problem', but - contrary to popular opinion - this is not required to point out flaws in the current system. Perhaps the current system is the best we can do, but that does not excuse its flaws. We should always aim for what could be - and what we could, maybe, come up with is a system that encourages innovation (through financial reward) yet disallows this kind of destructive behaviour. How? Who knows.
I bet 10 years ago if you applied such thinking to finance you wouldn't have got very far - "central bankers supplying fiat money is good enough"...yet now we have Bitcoin et. al., a whole host of currencies whose aggregate behaviour is mathematically provable.
Focus on the could, anything less is not worthy of the tag 'innovation'.
The ultimate with your logic is that it would call for massive legislation to cover every facet of our lives - everything bad must be made illegal, otherwise nobody can even be criticised for doing it. I don't want to live in a world like that. Laws are far too crude for that, they can only work at extremes where it is clear you can put down a blanket rule. In between, people and companies behaving badly should be held to account through criticism and public pressure. We should expect companies to behave honorably and ethically and criticise them heavily when they don't.