> A word without copyright is one where some publisher still makes money, but it's a race to the bottom for authors.
This is the case anyway; there are many writers competing for the opportunity to be published, so the publishers have a massive advantage, and it is the technology of printing (and cheap paper) that makes this a one-sided relationship — if every story teller had to be heard in person, with no recordings or reproductions possible, then story tellers would be found in every community, and they would be valued by their community.
> Here's a hole in your thinking: if you like fantasy, would you be content to just re-read Tolkien over and over, forever? Don't you think that'd get boring no matter how good he was?
The examples aren't meant to be exclusive, and Pratchett has a lot of books.
There's far more books on the market right now than a human can read in a lifetime. At some point, we may have already passed it, there will be far more good books on the market than a human can read in a lifetime, at which point it's not quality, it's fashion.
> And empirically, "new creative [people]" manage to complete with Pratchett or Tolkien all the time, as new fantasy works are still being published and read.
At some point, there will be more books at least as good as Pratchett, Tolkien, Le Guin, McCaffrey, Martin, Heinlein, Niven etc. in each genre, than anyone can read.
> Do you remember that "Game of Thrones" was a mass cultural phenomenon not too long ago?
Published: August 1, 1996 — concurrently with Pratchett.
Better example would have been The Expanse — worth noting that SciFi has a natural advantage over (high) fantasy or romance, as the nature of speculative science fiction means it keeps considering futures that are rendered as obsolete as the worn-down buttons on the calculator that Hari Seldon was rumoured to keep under his pillow.