Yes that's right if you compare to now but in Feudalism, people were no more "slaves" like they were during the Roman Empire.
It was still very hard but they had the right to own land and trade which make a big difference.
The definition of feudalism is a bit muddy, (perfect for politicians) and the traditions varied over time and place (also perfect for politicians, you can claim anything), but generally feudalism is described as farmers not owning the land, the lord did and the vassals rented it in exchange for resources and military duties.
You're right, it is hard to define and you're probably the only one here that know a bit about feudalism.
But I found it really interesting, especially the high decentralization and the absence of state (as we have nowadays).
People are total ignorant when they claim that the social organization did not change in the last 3000 years.
But hey, for most Americans, History start 400 years ago or more likely 50 years ago...
Go tell Israel they never existed before.