I'm not sure what are you arguing against? Sure, record labels might be exploitative and the share going to the original creators might be too low (no argument there), but how exactly would abolishing IP protections fix that?
If musicians can create and distribute their content on their own (for free) and sustain themselves entirely from donations and/or performances they are completely free to do that. What does that have to do with IP law?
You say "Yes, let's go back to the middle ages when when you could only be an artist/writer/etc. if you found a rich patron willing to support you" like that's not the case today, which is either duplicitous or just naiive.
Donations are exactly that, a rich patron willing to support you.
So you're basically getting upset over some made up reality where currently musicians don't need support from rich people, but that reality only exists in your head.