I know that that has been one argument in favor of patents since forever. But that ignores the part where competing parties are not freely allowed to build on another person's patent, which is essential for making good improvements.
And you can see this play out in the history of invention. For example, Edison stopped other people from doing research on the light bulb. Meanwhile the Netherlands was a country without IP laws at the time so Phillips quickly ended up producing the superior and cheaper product. No patent laws, bigger disruption. Similarly the Wright brothers were notorious for holding back aviation with their patents.