I'm in the camp of "does it matter?". Meaning, we live in the jungle still. And we still have law of the jungle - irregardless of what we think we have or don't have. The ones with the biggest guns are boss - literally and figuratively. Some places it's this or that entity, some places it's the people.

So in some respect it doesn't matter what piece of paper you or they hold - it only works within the framework of an existing paradigm. If they say, "but we own you, it says right here on this piece of paper", you say "fuck you".