Shelo Asani Aved?

Had a wonderful Shavuos, which I am sure I will write more about later. I'm still trying to catch up from my time off work - so just a quick question that I noticed from davening this morning, maybe someone can help me with an answer.

I thought it interesting that in the brochos we recite each morning, we thank Hashem "shelo asani aved" - for not being a slave. But we call ourselves "eved Hashem" - servants of Hashem. As far as I can tell, the Hebrew of the two words is from the same root (though admittedly, my Hebrew is weak, so maybe I am wrong).

I just thought it was odd that we would thank Hashem for something that we proudly proclaim ourselves as. I knwo it's meant to thank Him that we aren't slaves to other humans, but still, we are in another sense. And would we say tha same brocho is we were returned to our Egypt-status?