Yes, that is the way it was written, as a future discovery of the past.
London wrote it in 1907 and thought we would have figured all this out years ago.
The main thing I take away is the math of chapter 9.
According to that 1/2 goes to the owner in profit and everything else is paid from the other half.
So, a 10m dollar bridge is really a less than 5m dollar bridge, IF you take out the crapitalust's profits.
If you make it through that list, you will have a good grasp of economic alternatives that are available as options.
50/50 always seemed fair to me. Today, workers can purchase the means of production.
https://theanarchistlibrary.org/library/michail-bakunin-the-capitalist-system
Before you get too far into approving this split, you might give this a read.
It's not very long and explains a perspective you may not have been given before.