It doesn't "offend" "capitalistic sensibilities". It's just a result of optimizing the wrong metric.
Decision makers for American companies tend to use "Time spent at work" as a proxy for "Productivity". That used to work just fine when the job was pulling levers on an assembly line but turns out to not make sense when you are talking about software development.
I think the phrase "American capitalistic sensibilities" is well used here. American capitalism has a long history of optimizing for that particular wrong metric. It's culturally distinct from, say, Mittelstand capitalism: https://en.wikipedia.org/wiki/Mittelstand
Decision makers for American companies tend to use "Time spent at work" as a proxy for "Productivity". That used to work just fine when the job was pulling levers on an assembly line but turns out to not make sense when you are talking about software development.