Practically, the company needs to administer and secure their equipment for a number of reasons, including a legal need to keep their customers data safe.
That requires them to use tools which can easily let them know, for instance, what websites someone is visiting, and what executables are executing on the machine, what devices are being accessed and when, etc.
It’s pretty fundamental. An individual looking to secure their machine would need to do the same thing.
If a company abuses that to spy on every waking moment of an employee, that is obviously abusive (barring cases of investigating legitimate suspected abuse by the employee I guess?). But you’d need to somehow codify in law the line, and I haven’t see anyone having any success here so far.
I have seen employees steal massive amounts of trade secrets, secretly steal customers from employers, run porn sites from company equipment, etc.
I’ve also seen employees so creepy stuff like stalking customers, stalking other employees, harassing other employees using this tech too.
Personally, I’ve always kept employer laptops and stuff closed and off when not used, and try to segregate personal and work equipment, but that’s been more to avoid something embarrassing coming up during a presentation or the like.