It is so disingenuous to snip out the reason they gave and then pose a sanctimonious question as if it wasn't clear. They said it's to increase supply and lower labour costs.

You can argue with that or not but don't pretend you do not understand the capitalist ideal of an excess supply of labour so that salaries and benefits can be driven to legal minimums with desperate people still waiting to be hired no matter the indignity. Creating Labour surpluses to reduce Labour power and enable exploitation is not a "net benefit to humanity", it only benefits capital.

In our shitty world, you are only valued if you are in a position of more demand than the supply. You might get that by being lucky but most only get it by gatekeeping whether it's doctors or delivery drivers or companies buying up their competitors. If you stand idly by, the world will punish you.