This is the correct answer. Never forget that US copyright law originally allowed for a 14 year (renewable for 14 more years) term. Now copyright holders are able to:

• reach consumers more quickly and easily using the internet
• market on more fronts (merch didn't exist in 1710)
• form other business types to better hold/manage IP

So much in the modern world exists to enable copyright holders, but terms are longer than ever. It's insane.