Common meaning:

When everyone has the same rights.

Hidden meaning of the Equity religion: 

Creating a society where everyone has equal opportunity is a bad thing, a lie told by the oppressors to keep the oppressed down.

Discussion:

The Equityists believe that equality is a bad thing and that trying to create a society where everyone has the same rights is wrong. They think equality is a lie that is told by the oppressors to keep the oppressed from ever getting their fair share. 

In reality, creating a society where everyone has the same rights is wonderful. Each person feels respected and that they are not being judged for characteristics they have no control over. 

The Western system, according to believers of Equity, is so oppressive that we can’t have equality within it. Equality is just a lie that oppressor groups tell the oppressed to keep them under their thumb. We must implement inequality that makes things not fair, so we can achieve equity, where the people who are marginalized get more than others.

Aiming for the equity of groups instead of the equality of individuals is a horrific idea and the speed at which it has infected Western societies is truly shocking.