No, the problem with this is that a lot of IPs aren't profitable in their initial years, and this pretty strictly encourages property-holding as a business. That's exactly the wrong kind of revenue generation that copyright is supposed to be encouraging. It's empty rent-seeking.

Further, I think that the premise is flawed. Rather than being more protected by being profitable, a work should be less protected the more it has profited the owners. If you can make $50 million profit as an individual from your creative work that took 5 years to produce, then you're done. Dozens of lifetimes of wealth for 5 years of work? No, that's more than enough. You don't deserve more money for that. You have been suitably encouraged. The trouble with that idea is that "creative accounting" is too easy, so that won't really work, either.

I think it should match patent law. 20 years, and that's it. After that, if you want to keep making profit, you need to make something new. Because that's what it's supposed to do: let you make a living if you're able, and encourage you to keep working to create more.