Code is not sentient, has no human rights, masters don't create slaves out of caffeine, etc. etc. This analogy does not hold at all in my opinion.
Like thinking you're ending slavery by freeing all the current slaves but not making it illegal to own, buy, and sell slaves, or capture previously free people into slavery. Guess if you'd have slavery again very soon?
The analogy is about freedom vs lack thereof, not manual labour vs software. And as you see, it works very well.