Curious; those objecting to IP rights, I assume you also object to trademarks? So it would be okay for any company to sell their hardware branded as "apple"? I could sell any drink as "coca cola", in identically looking bottles ? I could sell fake medical drugs under the same name as the real one, in the same box, even though they just contain calcium tablets?
Generally, fraud is a separate issue from IP. If you buy a bottle of aspirin, but take it home and find it contains antacids, then that's fraud, and should incur consequences, at the very least a lawsuit.
Someone who goes out of their way to convince someone they're buying a product from someone they're not falls into the same category, although the line is more blurry. Again, judges, juries and local standards should be able to hash that out.
But a company that sells knockoff Rolex watches ("Rolls-X"?) Or one that sells "Cola-Coke" that is far inferior to Coca-Cola? That sort of stuff happens all over the world already today, including in the US, and most seem to handle it fine. That's not a problem.