The notion of the latter informs the former. The public domain is intellectual property rights of the people. Restricting the public domain takes that away.
So if an artist creates a piece of intellectual property, do you not think they should have control over how it’s used? Including who can make profit off of it?
That’s an extremely vague question, and presumes that any art is de facto intellectual property.
It also presumes that anyone has access to the institution that defines and enforces intellectual property.
Also, intellectual property isn’t a real thing, but you don’t want to read too many words, so you’ll have to figure that out for yourself.
In most if the modern world, copyright laws give automatic ownership of unique works of art. Legally IP is a real thing.