If I take a Range Rover, reserse engineer it and sell it for a lower price who is harmed? The society at large or a special interest group involved in the manufacturing of the original Range Rover? If you want to make money off manufacturing you should invest in novel things. Not things that rely on the IP system to generate wealth for you. China is booming because they disregard Western IP. IP is a construction that benefits wealthy countries for the benefit of the wealthy.
> Intellectual property done right puts bread on the table of many researchers and engineers
The same can be said for any number of things; just because you can make money doing it does not mean it is defensible to do it simply because of that reason. It is a non-argument.
> and is arguably a protection agains't direct Chinese theft.
That is called begging the question. If intellectual property did not exist, “theft” would not be theft, and nobody would create a business which would depend on it existing.
That being said, Google is really turning into a monster at this point with all their patents on random algorithms.