Yes exactly. "Equity" is one of those things that may sound good to zeroth order, but in reality always means everyone gets pulled down to the lowest tier, and the only way to get ahead is be the equivalent of an inner party member who gets a separate set of rules.

People look at capitalism and meritocracy and say people aren't equal under them, and it's true, but it's still the least bad system. It's easy to compare the problems of the current system to hypothetical ideals when advocating other approaches. The reality is, none of these equity ideas actually work in practice and they make everything way less equal and fair.