I don't thinks that lack of legal protections for IP is in any way an equivalent to communism. Money would still be on the table, it's just the way they are gained would be somewhat different. IP as a concept isn't even that old and our societies managed to exist, produce works of arts and various services just fine.

As for the big tech firms - why wouldn't they exist? Would Google be disrupted if tomorrow all patents in the world became unenforceable? Or Amazon? Sure, MS might be in trouble, but what they are doing already feels like a gradual switch to a service/subscription based model.