The options one vested during their tenure was part of their compensation and encouraged them to work harder in a riskier environment than later employees, and

The options one vested during their tenure was part of their compensation and encouraged them to work harder in a riskier environment than later employees, and arguably if later employees have continued to see their options gain in value, it's in large part for the work these earlier employees put in. Work that was compensated in salary and stock options. The argument you're making is putting early employees against later ones, at the benefit of executives and investors. It's not a good argument, if you're hoping to make an empathetic and moral one.