The scale of the employee's greed make it's actions seem tame at a small scale (punching false times...). They justify it by saying they are getting their dues and for once they are the ones screwing and not getting screwed.
The scale and visibility of a company's greed make it much more apparent that it's incentives and moral compass are way off (mistreating, exploiting...). They justify this behavior as helping the bottom line and making the numbers look good to investors.
Until ALL the actors, both companies and individuals start adjusting their 'morality' and integrity this will continue happening.
How is that a bad thing?
But indeed those employees (programmers, etc) saw that as a benefit of doing no more than 40 hour per week.
Sometimes you might fix that one bug that would haunt you over the weekend otherwise, I grant you that. More often than that, feeling that one has to enable oneself to finish stuff at the end of the week leads to fewer plans on Friday nights, too little socializing outside of work, less restful weekends. And those kill productivity and company culture in the medium term.
In the short term I have seen my share of lost productivity because people feel like deploying hardly thought through changes (if only to internal system) on Friday afternoons to get it done that week.
It was a disaster and lead to all sorts of undesirable behaviors and malicious compliance.
I've seen companies where this happens, and people have Friday afternoons off because they already did their hours that week. They have 0 loyalty to the company.
Relationships work in 2 directions. If the company treats you like lazy scum, you will treat the company as an oppressive thing you want to avoid.
If the company trusts you, you are less inclinded to breach that trust.
This also works for blue collar workers, just look up Ricardo Semler of Semco.