>This substantially reduces the incentive for the creation of new IP.

Not all, but some kind of IP.

Some of those that is created for sake of creating it and nothing else.

The psychology behind "creating it for the sake of creating it" can also be significantly changed by seeing someone then take it and monetize it without so much as a "thank you".

It's come up quite often even before AI when people released things under significantly looser licenses than they really intended and imagined them being used.