Well, if you could somehow guarantee that your book would sell enough copies in that two-year window to make a million dollars profit, it would make sense to pay you a reasonable salary for the five years it takes you to write it. It's not completely implausible that people would pay for something that could be had for cheaper soon, considering that there are grifters selling "new editions" (with a publication date in the future, to game recency-biased search algorithms) of out-of-copyright works that are available for free elsewhere.

The real problem is that it's hard to predict the commercial success of a creative work, especially when it doesn't exist yet. Publishing is a hit-based where most books barely sell, but then a few make more than enough to cover the losses incurred by giving long-shot authors a chance.

With much shorter copyright terms, I guess only sequels of already-popular works would get significant funding.