I get what you're saying, but minimum wage really isn't meaningless because if employers could pay us less they would.
Minimum wage contains just enough money that if you live an incredibly poverty-stricken lifestyle, you can just barely manage to scrape by by using all of your spare available energy to survive until tomorrow.
Escaping minimum wage as a lifestyle requires a fortuitous stroke of luck or the support of people who are not living the minimum wage lifestyle.
The more companies as a whole can crack down on the ability of the average person to escape from the minimum wage lifestyle, the more people they have available to subjugate into the minimum wage lifestyle and keep their own expenses down, allowing them to accrue more wealth more quickly.
By all reasonable means, minimum wage should increase to a compensate for the extraordinary amount of lifestyle creep and inflation that has stricken America over the last 15 years.
If that happened, more people would escape from poverty, meaning that there would be less money available for the richest people at the top of the scale.