Common meaning:

Studying mathematics with a non-Western lens.

Hidden meaning of the Equity religion: 

Studying the history and sociology of math instead of the subject itself.

Discussion:

Equity says it is more important for students to learn the history and sociological background of math than it is for them to learn how to calculate numbers and formulas.

I know, from a logical perspective, it would seem like replacing the entire math curriculum with just the history and sociology of math is an insane thing to do. The problems generated by doing this seem to be so large that surely no reasonable person would do it, but religions are not reasonable. 

Equity is determined to destroy the oppressive West and math is considered part of the oppression. They consider logic and reason to be oppressive constructs, so eliminating math in the belief that something better will appear makes sense to the Equity faithful, even if it is utterly crazy.

One day, Equity believers hope to replace mathematics with mathematx. Does that sound like a good idea to you?