Yes, It creates serfs/indentured servitude. Both the H1B visa and GC application should belong to the worker/applicant, with conditions (as long as they are employed with the given salary, pay taxes, etc...).

The employee should just be able to do the process themselves, and handle it the papers with their own lawyer.

It is clear that the H1B is setup to maximize the benefits to large corps, and not necessary the american economy/people.