Having been one of those #1 employees in the past, I didn't feel short changed. It was an arrangement that was beneficial for both myself and the employer. I don't know how many of us there are. But there are people who will take being on call 24/7 in exchange for full autonomy and not having to justify coming and leaving at random hours or taking leave without notice when the opportunity is there.
I had the employer pay for some of my vacations during downtime, I progressed along my career path much faster than normal employees, I was paid more than normal employees. It was a good gig.