I do like your libertarian line of reasoning. If the law doesn't work very well, it should be abolished. I've seen people say the same thing about the EPA and OSHA.
You are advocating for putting on scuba gear after diving deep into the ocean, because you think it might be a little inconvenient for someone to waddle around on a dock with it.
Taking away worker protections before ensuring it won't immediately be abused by giant corporations means that you are taking the side of the giant corporation, and you are equivalent to any other corporate shill. If you don't like that, take steps to improve yourself.