I would be ok with that if the owners of such a company also worked only for the happiness and not for the profits - in which case, they would forgot any personal compensation over about 60k.

But... you and me know that there are no such business around. Even people like the Google founders claim that their major goal is job happiness, but they don't think twice before buying a huge yacht with their billions. In other words, they have just talk and no attitude.

Why do you think that employees should be happy with getting only a base salary, without raises?