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That varied extremely relative to time and place but yeah there was a pretty clear prelateship between that and how they were treated (e.g. Ancient Romans treated as slaves as entirely disposable during the Republican period but began introducing various laws protecting their rights etc. when the supply dried out by the 100s AD).
Also you're disregarding the massive societal disruption and loss of life the slave raids themselves had (historically slave populations were almost always non-self sustaining, besides a few exceptions like the Antebellum US). Victims of the Atlantic, Islamic, Mediterranean, East European etc. had a 15-50% chance of dying before ever reaching their final destination), at the start of the "logistics chain" their lives were almost entirely worthless.
> most slaves, it was farm labor. In which case, there would absolutely be a few horrible traumatic events
I would suggest you read about slavery in Haiti and other Caribbean colonies. The life expectancy for newly arrived slave might have been as low as 4-5 years (they were basically disposable "tools" since the prices of new slaves were quite low).
And this wasn't really that exceptional (about 2x more slaves were imported to Haiti alone than to British North America/US).
> I am daring to suggest that life for the lowest classes
> right now isn't as much of an improvement as we would like to believe.
That's extremely delusional.
There are documented examples, if you care to educate yourself.