To your first point, I think a common misconception with this as developers and skilled knowledge workers is that we only look at our personal productivity. Yes, an individual programmer's productivity may be decreased by working 50 hours in a week, but if the company's productivity overall is increased, you'd be hard-pressed to make an argument against it. This is assuming that extended periods of 50 hours weekly (including all planning and meetings, not just programming) is below the level that would induce burnout in most, or that that's factored into whether it's "better" for the company or not.