I think as our generations continue, the human condition deteriorates, so that it is indeed inappropriate; the difference in level between classes becomes insufficient to support “avdus”. As well, the “superior” class is unable to treat the “lower” class in the proper manner, and is therefore unworthy of the privilege.
Hate to say it, but you can apply this logic to all mitzvos (which are given to yidden due to being superior, famous mashel with the two sick people and their diet, etc.)
Then you turn Reform.
And if you owned an Eved in Saudi Arabia (where it is semi-legal), or in the Antebellum South (before the war of Northern Aggression), you would have all dinim of Eved Canaanni. But your logic says throw the halacha out, we are too modern for such things.
Reform.