I might not understand the complaint here. I don't get paid royalties on the software I write either, because my employer owns the copyright to my work. That licensing arrangement suits both of us because I would like to collect a salary without assuming the risk that my work won't be profitable. It's not an exploitive relationship.
The thing is, you are actually assuming the risk that your work is not profitable.. if the work is your personal work, your employer may sack you or withhold a raise. if the work is your team's then you share the risk, unless your team is the only team and then your employer goes out of business. It is (usually) an exploitative relationship, most just don't know it. The fact that this arrangement is the norm speaks o…
At my last job, I got to choose the balance between salary and equity I wanted -- and I really had to calculate if I wanted to earn a little less (or a lot less) in exchange for a greater share of future profits. Or to earn a little more (or a lot more) in exchange for giving that up. And having gained quite a bit of knowledge from the investor side of things, at least here in the tech industry in NYC, I don't think it's accurate at all to say it's "usually an exploitative relationship". At least, as long as employees bother to figure out how it all works.
Of course your employer can sack you or withold a raise. But of course you can leave for another company, or tell them you're leaving if they don't give you a raise.
But you've got to have enough skill to be of value, and enough negotiating skill not to be taken advantage of, as well. Just like a company has to have enough skill not to hire not to be taken advantage of by its employees -- the employees who don't contribute, the employees who spend more time playing politics, etc.