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Correct!
And some people's time is inherently more valuable than others - this makes sense in a deeply twisted way. A emergency brain surgeon for example, would be exceedingly difficult to find, and even more valuable to have, let alone utilize. I think a lot of us can agree that the surgeon being able to save a life in ways almost all of us cannot is valuable.
But some people's time isn't valuable at all. Any middleman - salesman of every type, healthcare insurance, stock brokers. They have been made artificially valuable because they are significantly better at producing income for the already wealthy.
No broker, salesman, or healthcare insurance provider (or hell manager even) is going to help 95% of the country make more money.
Now, if we got compensated based on the finished product we deliver - that would make the hardest workers a lot more fucking money. But corporate America would never allow that - the employee didn't purchase the parts before assembling it, or the ingredients, or the network infrastructure, etc.
The problem, at its core, is that it all ends up tying a price to a human life. Until we can separate cash value from life, we will be stuck with this system.
It's possible to do on a small scale, but inevitably it ends up recreating itself as the community doing it grows.