Objectively, IP exists and is acted upon, so IP is real, obviously, but IMO it is bad, and should not exist.

People tend to forget that IP was not originally about digital distribution at all (copyright), it was about giving inventors exclusivity periods to profit without competition (patents).

It was a misguided attempt to stop sometimes literal theft of designs from rival inventors, by tying the design to the person instead of whoever possessed the schematic.

It's also a regime that in its modern incarnation protects businesses, not artists.