Completely agree. This reminds of the scene from Moneyball where trading players is discussed: https://www.youtube.com/watch?v=fTjhHrcyiQI.
The lesser and lesser rights of employees is a power grab. Employees still needs to pay high rents, expensive mortgages, bring up kids and everything else. If anything that has become harder to do successfully by working.
I really don't think a lot of companies are going to come out favorably in hindsight if there is a downturn.