The hallmark of contract employees is not a massive increase in hourly pay, it is the ability to choose when you work and what jobs you take. Minimum wage makes sense for traditional employment because it's all or nothing, it doesn't matter how much you don't want to come into work today, either you work or you're fired. With gig economy work, you can say "eh this isn't worth it for me" when the compensation would be low or if you had something better to do, but still get paid when it would be more advantageous for you.
If people aren't being compensated enough to justify the time spent, they can just stop with no penalties. That for many people a menial gig that pays less than minimum wage is better than any alternative they have access to is the real issue. People should have access to rewarding work and hobbies that they'd prefer to gig work, but you don't fix that by making gig work pay more.
If people aren't being compensated enough to justify the time spent, they can just stop with no penalties. That for many people a menial gig that pays less than minimum wage is better than any alternative they have access to is the real issue. People should have access to rewarding work and hobbies that they'd prefer to gig work, but you don't fix that by making gig work pay more.