That's literally how capitalism determines wages, yes. I too have critiques of capitalism. But I often refrain from enumerating them on every single comment that relates to labor because otherwise we never get to actually discuss labor in its current context.

Fortunately there are other ways to determine wages.

Not every society expects people to achieve maximal performace on quarterly OKR, while management foreman's play rythmic cadence drums and whip slashes.

Ok sure, dude I am with you, I am a socialist. But this doesn't help us navigate the existing system we have to work in until we can finally establish a truly socialist society.

It is a matter who we chose to vote on, the unions we empower, the fight for sensible work protection laws.

Then again, European socialism is already too left for US capitalism mindset.