It would be nice if that were true, but that's not what Exodus 21 says. Not just the children of captive slaves but the children of Hebrew slaves too could be born into slavery. Note verse 4. The Hebrew laws about slavery may have been relatively merciful in the context of the time, but in the context of modern times they still seem cruel:
2 If thou buy an Hebrew servant, six years he shall serve: and in the seventh he shall go out free for nothing.
3 If he came in by himself, he shall go out by himself: if he were married, then his wife shall go out with him.
4 If his master have given him a wife, and she have born him sons or daughters; the wife and her children shall be her master's, and he shall go out by himself.
5 And if the servant shall plainly say, I love my master, my wife, and my children; I will not go out free:
6 Then his master shall bring him unto the judges; he shall also bring him to the door, or unto the door post; and his master shall bore his ear through with an aul; and he shall serve him for ever.
I bow to the scriptures here.
That said, the things that the Egyptians did to the Hebrews would have been unconscionable.
There is a lot in “Love thy neighbor as thyself” which we sometimes give short shrift to today, because it’s so sweeping and we want a simple enumeration... because we don’t want the Spirit to teach it, but our intellect.
Anyhow, a modern Calvinball loosely based on the Old Testment is asking to get smited by the Lord if it ignores, or even worse, gainsays, the 1st and 2nd Commandments in the process.