People are currently working 50+ on a 40-hour schedule, and paid as if they worked something like 25.

Best case, they set it to 32, we end up working 45 and get paid like we worked 20...

Until the minimum wage goes up, nothing's going to make much difference. And even then, until and unless the Exemption threshold is both raised AND actually enforced, salaried workers will still continue being effectively 24/7 on-call slaves at whatever rate the owners think is good enough.

It's an idea whose time has long come. Unfortunately, it's putting the cart before the horse. Perhaps that's why the Oligarchs allow it to be considered. They know they can adapt to it and end up squeezing workers even harder in the bargain, somehow.