Except it's not collapsing. The only legal changes have been to allow billionaires to do whatever they want whenever they want, and have been made by judges and not legislatively. You're still going to get sued to oblivion.
edit: if we let them, they're just going to merge with the media companies and cross-license to each other.
There is a whole wide world beyond just obsessing over "billionaires" in a tiny us-centric corner of the world.
One could point out China, who totally has so much respect for someone's notion of legality. Or France that had never cared for software patents. Or one could point out good old pirates, who were always relatively successful at giving a middle finger to the notion of "intellectual property". "Billionaires" are simply another straw, peculiar only in the sense that they were the pillar upholding this institution.
And speaking of "not legislatively, but judges":
1. Not every country has a common law legal system
2. Just take a look at Japan's AI legislations.
edit: if we let them, they're just going to merge with the media companies and cross-license to each other.