I hate to break it to you, but the ruling class agreed to this compromise only after 2 world wars. The conflict to resolve was/is not between political parties, but rather between the working class and the ruling class. In this case, the ruling class upended the labor party during WW1, then were obliterated by the Soviet Union for doing a holocaust (WW2), which laid the conditions for the so-called compromise.

I don’t mind that it occurred that way, what do you think about the outcome?

I guess I mind that it occurred that way because it was preventable and millions of innocent workers died as a result, but nonetheless it's history now.

The policy has been good for workers in Germany, and might be the best example of how universal material demands for (actual) worker power are extremely popular in practice. Not even the most conservative German politician would dare challenge the policy in public.

It is, nonetheless, unsustainable. Without the threat of the Soviet Union, pro-worker legislation is losing its necessity in legitimating the Western ruling class. Once its founding generation is gone in a few decades, the policy will dissolve along with them, short of a newfound radical workers movement throughout the EU.