That's not an ethics argument. As could be inferred by the fact that it is in favor of paying a lesser amount tangible property due to the arguable benefit of an intangible concept that no one owns.

However, meaningfullness can't be accounted for given any individual teacher. Some hate their job, just as in every other profession.

Instead, it's a justification for offering less property for work.

It is not dissimilar, and may be ethically worse, to the hypothetical justification to lessen funding for homeless people: "well, at least they are getting fresh air".