Common meaning:

Advantages of being male or female: Males have certain advantages over females and females have other advantages over males.

Hidden meaning of the Equity religion: 

Binary norms are oppressive to non-binary people.

Discussion:

The Equityists think that all people who identify with binary gender norms have privilege and are oppressing all non-binary people. 

Equity approaches binary privilege like it does every other situation and simplifies it down to the oppressor over oppressed dynamic. It doesn’t matter how complicated something is or how many other important variables it has. The only thing that matters is the assumed fact that power is being used to oppress. 

It is true that there are times that simplifying the world helps us understand things better, but only viewing our complicated world through one lens of simplification is a really bad idea.

The Equityists say that simply existing as one of the 99 percent of people who identify as a normal gendered person (male or female) is oppressive to the 1 percent who are non-binary people.

Although the idea of binary privilege makes perfect religious sense within the Equity religion, telling 99 percent of the people they all hate 1 percent of the people is insane.