This is a core difference between salaried/exempt and hourly workers. You're paid a fixed salary to perform work for your employer, whether there's 80 hours or 2h of work in any given week, you get paid the same.

So if you're a salaried worker delivering results, meeting your obligations and overall expectations of your employer, then how could you possibly construe it as fraud?

Taking away the upsides, but not the downsides of salaried work sounds, for the lack of a better word, rigged.