It certainly is that simple. I know a lot of serial contractors who would rather take the guaranteed $150/hour instead of $95/hour+equity because the latter is a crap shoot. Sure, there will be cases where they could say "If I had taken the equity deal on GitHub/Instagram/Fabulous Startup I could retire now".... they can dry their tears with the realization they are still in the top 2% of all income earners even without the equity millions.

let’s face it: the distribution of equity is about leverage and convention.

as a community, we anchor each other by saying things like what you’re saying. if more people felt the way i do, as a community, we would not accept the status quo.

it sounds as though your stance is founded upon a just-world hypothesis.