It would be a very different world, for sure. Public funding and patronage would play a significantly larger role than they do now, works produced non-commercially would have bigger prominence. It's harder to say what would happen in absence of patent laws. Higher reliance on trade secrets? Non-competes in every employment contracts?

Overall I don't think that we would be significantly worse off, especially now, when it's technically possible for general public to engage in croudfunding.