But that is true of everything. Literally. There are no industries that wouldn't have more, cheaper existing things if you removed IP protection, whether it's safety or anything else.
That said, I'm not sure the Katy Perry situation is relevant here, though. Music copyright in the US is a completely separate section of the law, and has completely different rules. It has all sorts of bizarre things, like the compulsory license, etc.
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So it's important to always remember any time you hear anything about a US music copyright case, you basically can't generalize it to any other field, because the law is completely different in effectively every respect!
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