Common meaning:

Someone who believes in the abolition of something hateful and unjust like slavery.

Hidden meaning of the Equity religion: 

Someone who believes in the elimination of the rule of law and all of the institutions that implement it.

Discussion: 

Equity abolitionists are against the rule of law and want to dismantle and abolish the police, the courts and the prisons. They believe all crime committed by individuals who are part of an oppressed group is a direct result of the oppression they have experienced by dominant groups and only as a result of this oppression. So, remove the oppression and you remove the crime. 

Removing the rule of law and all of the institutions that support it is a breathtakingly bad idea and whenever it has been implemented it has  failed spectacularly. 

Equity believers fall for this obvious lie because their religion does not believe in individualism. They think it is not individuals who are responsible for their actions but it is the forces of group oppression that are the source of evil. 

People who are calling for the police to be defunded have fallen for a religious lie and if they succeed it will be a disaster.