In the face of this perfectly legal travesty, what's a creator to do?
Be Kate Bush.
https://kriswrites.com/2022/07/27/business-musings-kate-bush-and-the-multimillion-dollar-long-game/
I've repeatedly declared that I will not license my books to film companies. That instead, once the cost of video production plunges enough, I will make agreements with up-and-coming filmmakers to produce versions that I have heavy control of. (The filmmaker needs some control as well. It'll take careful negotiation.)
But these film versions will not be destroyed for the sake of a tax write-off. I'll make a few bucks a year off them for the rest of my life.
@mwlucas Will you do a cameo?