Common meaning:

Reaction against the meta narratives and ideas of modernism, which believes that nothing is universally true.

Hidden meaning of the Equity religion: 

Nothing is universally true except for the power used by dominant groups to oppress victims in minority groups.

Discussion:

Equity considers the postmodernist rejection of all objective reality to be valid except for two things. They argue that groups are real and the dominant groups use power to oppress people in minority groups.

It is important to understand that the core of Equity is still primarily postmodern in substance. The Equityists have added the idea that we know that groups and power are real, but the rest of the religion is highly postmodern. This is why stories and metanarratives are such an integral part of how the belief system works.

In the real world, many things are true beyond just groups and power. The Equityists are wrong when they say these are the only things we can truly know. 

Let us not fall for the illusions of a postmodern world layered in Equity.