It sounds like you blame their own lack of effort for losing their jobs. Like, if they would have worked harder, it wouldn't be them on the line.
But the reality is, they did not let the corporations take advantage of them. They turned table and had a good Work-Life-Balance and got paid for it. Yes, maybe it cost them their job. But at the same time, they had one for years, and for many people it would have meant that they had been ready for a change anyway.
Eventually, happiness is a personal measure and what fulfills you is your own desire and the way the people worked, that you talk about, may not be your preference. But it does not sound like they made a poor choice.
I worked my ass off for 20 years. I'm an expert in the field that I work in, but when I had been skipped for raises in three years I said fuck it and put my personal life in front of everything else. I wake up when I want, start my work when I want, work way less than I should. I still don't get no raise, but all my peers and my manager continue to tell me what a great job I do. Now I'm slacking hard, but why should I feel bad, when hard work is not valued? That my boss and peers are happy are a positive thing, but I would not concern myself much, if they were less.