Hello Paul,
Thanks for taking the time to write.
You're correct -- these two concepts get conflated, leading to no end of confusion.
Today, we would view the "indentured servitude" relationship more akin to a contract employee -- someone with full rights and independence, who has chosen to sign up to serve you in a work capacity for a set period of time. They cannot be abused or treated as inhuman. If they are, they can walk away freely.
Even when a person became an indentured servant as a court-ordered punishment, they could still leave freely if they were ever abused.