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My thought of an option that would make everyone mostly happy:
Initial copyright term: 25 years
Renewal: 75$, every 5 years
Can renew indefinitely
That way, orphan works move quickly to the public domain, but Disney can stop messing with copyright law.
There would need to be an online registry of all books under copyright, which would need to be publicly accessible in order to find the copyright status of any work.
The cost of renewal could be adjusted. Its main purpose is to create some tiny barrier to renewing forever, so that a work that is earning the copyright owner very little will not be worth renewing forever, but should be low enough that it isn't a problem for an owner who wants to keep their book for a longer time if they want to.
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