The argument against it is founded on copyright.

We fund copyright in order to enrich our culture, by incentivizing creative works.

Blocking creative works preservation strips away the cultural enrichment.

What's left? People being compelled through taxes to fund profit police for copyright holders who aren't holding up their end of the bargain.

It's worth noting that publishers, and especially the "rightsholder groups" that they hire, are not artists. They are parasites. They are paid more than fairly for their role in getting creative works out there in the first place. I can't think of any reason why they should have continued control after they've stopped publishing them.