Keep in mind that it was out of this system that modern capitalism evolved.
As a student of history, this is kind of a caricature. Serfdom was terrible, but society depended on their labor so there were some constraints. Never heard they couldn't own personal property either, they just couldn't own land. I couldn't watch it all, did they mention that serfs were exempt from both taxation and the draft? Anyhow, not defending serfdom, but pretty sure most historians would cringe at this.