You might be vaguely aware of hybrid vigor, which is of crucial importance for many crops, especially cereal crops, and is a major part of the 'green revolution'. Hybrid crops have driven much of the yield increases we've seen over the past several decades. This is due to a very specific phenomenon called heterosis, and is still fairly poorly understood but is known to be mediated by epigenetic mechanisms. That is, it's not a magic combination of traits or more heterozygous loci, but a genome-wide phenomenon that affects gene expression in ways that are generally favorable to growth.
But! You're confusing this with sterile or semi-sterile inter-species hybrids like mules, or perhaps sterile triploids like banana. These are completely different phenomena that have nothing to do with 'hybrid corn'.
Corn of all kinds that see significant cultivation is perfectly fertile, Monsanto products included. What you don't get is any hybrid vigor in the F2 generation, only the F1. There's nothing about the IP or companies that make this the case, it's fucking biology. You can seed-save all you like, you won't run a farm like that because you won't make any money. Even if you aren't using transgenes (i.e. 'GMOs'), you'll still use seed made from directed crosses from parental lines known to produce hybrid vigor when crossed. Seed saving ended because of this, not some loony conspiracy about 'evil' seed companies.
One confounder: Terminator seed. This is a technology that does make F1 seed sterile. Oddly enough, this was done for reasons of environmental responsibility; if you make your transgene products terminate, the transgenes can't spread into the environment. Unfortunately this technology was never commercialized because of reactionaries like yourself.
As for genetic diversity, your impression has no basis in reality. Breeders have only become more zealous about gathering wild accessions to use in breeding programs, namely for disease resistance traits. These programs would be wildly more effective if, instead of back-crossing for many generations over many years, you could simply pop in the relevant loci in a transgene. But that's another foolish pipe dream due to the reactionaries.
Final point; you're aware traditional crops have just as much IP protection as transgene crops, right? Plant variety protections last in the 15-20 year range, are respected by most international treaties, and are ubiquitous in crop breeding, ornamental flower breeding, etc. Utility patents provide slightly different protections for transgene crops, but it's not much different. Those trendy apples or 'Sunshine raspberries' at the grocery store? 100% patented. Why is your trendy beer so expensive? Patented hops. It fucking boogles the mind that anyone thinks transgenes have a thing to do with this.