The 40h a day week and modern-day work contracts come as a direct evolution of medieval servitude, with little modification. This explains the system of values that revolve around it, such as for example the notion that it's somewhat something to be ashamed of for an employee to leave its employer, while it's perfectly OK for the employer to terminate the employee at any time. The servant was not expected to leave it…
I think the modern wage labor relation is very different than medieval serfdom, on both sides. Marx does a good job of explaining this Kaptial Vol. I. What is the same is the basic exploitation that underlies that relationship.
I agree 100% with the rest of what you say though, there are too many people taking BS jobs too seriously.