I've been lucky, through no real merit of my own, to have ended up in a position where what interests me happens to be somewhat in demand, and financially valuable. I ended up in my field out of personal interest and curiousity, and the unexpected opportunities came on their own. True, those opportunities came through learning and effort, but the fact that I was able to invest the non-trivial time (2-3 years) involved learning those skills is, in itself, exceptional today. It's important to understand the context in which my own present success was possible, and that not everyone begins from the same starting line, and some people will never escape that arbitrary setback.
I'm not sure how a bit of empathy and looking outside our own narrow privileged silo is banana republic legislation, but calls for an honest assessment of the cost of things seemed refreshingly honest to me, and the article clearly communicated her point of view.
A banana republic is a country which is being exploited by foreign companies who are extracting scarce resources (e.g. exotic produce, minerals) in unsustainable ways. The leaders of banana republics, being beholden to foreign companies (and often the governments/militaries where those companies are headquartered) want to extract the most resources for the least amount possible.
'Banana republic heaven legislation' would do away with minimum wages, overtime, and even health and safety legislation. Banana republic heaven legislation would be exactly opposite what the author suggests.
Also, if you were to look up what a banana republic was, you'd see that this kind of legislation is the opposite of what they would do. after all, if you have a captive workforce, why limit the hours? just make them work more, its not like they can go anywhere.