IMO the system needs to work on getting a better deal for the public in exchange for granting the monopoly that a patent holder gets.
For example after 5 years the renewal fees could relate to gross revenue from any device including that patent, or actual licensing fees. I like the former as it seems harder to work around [though you'll get components sold as products to companies residing in the same factory, I guess] and means that patents that don't contribute considerably to revenue will be dropped. This means people can still profit from useful inventions.
You could also underpin renewal fees with an exponentially growing base cost.
For example after 5 years the renewal fees could relate to gross revenue from any device including that patent, or actual licensing fees. I like the former as it seems harder to work around [though you'll get components sold as products to companies residing in the same factory, I guess] and means that patents that don't contribute considerably to revenue will be dropped. This means people can still profit from useful inventions.
You could also underpin renewal fees with an exponentially growing base cost.