OP did not say, and I wouldn't either, that every aspect of a employer-employee relationship should be documented and tracked like a PnL. But no one should pretend that it's not a debate over "unwritten compensation", and the value the employer gets from the employee. If employers didn't want to quantify that, there wouldn't be demand for corporate spyware and monitoring of employees. Yes, the Microsoft 365 option was shut down, but it's an arms race, and that's one battle in a war.
Why shouldn't employees want to extract the most value they can for their labor, and push back when the terms of that agreement change? If cost cutting or taking a loss necessitated a firing, would that "tacit relationship" prevent someone from being fired? My guess is no. Business is business, not personal.