Um, is your argument that "we could technically classify these random other things as 'privilege' if we really stretch the word, therefore more obviously problematic things related to privilege like family wealth, social status, and race don't need to be addressed?"

Because that's how it reads.

You also built a straw man by deliberately misunderstanding the word "equity." The word has been clearly defined since the Middle Ages and means simply "share of ownership." i.e. To be equitable, a business must pay all its employees both salary and shares in the company. Same as us software devs get.