So someone should be rewarded just for being born into a family that happens to own the rights to a certain popular piece of content? Even if they themselves never did anything either creatively or in terms of hard work in their lives?

Aren't you just suggesting a tax free way of passing money between generations of a family (as current inheritance is subject to taxation)?

Also doesn't this kind of thing just discourage the creation of new artistic works? If there are tons of big popular individuals and companies, then how is the little guy meant to make a splash?