That's called renting. And even renters have rights per whatever lease they signed and local laws.

It's a simple formula. If you want me to be personally invested in my work and go above and beyond, then I need the motivation to do that. So either you grant me a reasonable level of professional input such that my opinion is valued and I'm helping the mission succeed, or pay me for said extra effort (can be opportunities for promotion, direct overtime pay, career advancement, etc). If you want me super-motivated you can even do both!

If we're playing hardball "you're some lowly IC nerd without an MBA or connections and we're here to make money so fuck you" capitalism, well the only serious leverage I have to is to take my talents where they're most appreciated. So you'll get exactly what you pay for until I find something better, and aside from some professional courtesy I'll be looking. Maybe you're fine with that, but if you start preaching "ownership" of the product just be aware that the entire dev team is going to pay you lip service and then laugh as soon as you're out of the room, and we clock out at 5:00, even if we don't on paper. Except for poor Bob who due to life/family commitments has no option to leave and needs to rationalize his situation even though he agrees with us. Sometimes we'll tone it down just so he doesn't feel too bad about being trapped. Regardless, in that environment we take ownership of our careers, not our work.

I've worked both types of jobs. I'd say the former worked the best for all involved, but the latter has its place and is fine so long as everyone acknowledges what game we're playing and expectations are set appropriately.