Common meaning:

The world as it actually exists.

Hidden meaning of the Equity religion: 

The only thing real in the world is the lived experience of the oppressed.

Discussion:

From the Equity perspective, the only people who actually experience reality are the oppressed. To find understanding, we need to listen to the subjective feelings of people who are part of oppressed groups.

Since only the oppressed can experience reality, this means that the real world does not exist for oppressor people. For example, if 20% of a population is disabled this means that 80% has no clue about what is really going on.

The Equityists believe that able-bodied people cannot understand reality. Only disabled people can see the true reality of this world. This certainly encompasses understanding how the world oppresses disabled people, but it goes deeper than that and includes an understanding of what reality really is.

The more oppressions a person has, the more they can, according to Equity doctrine, see reality. If a person has no oppressions, they are completely blind and ignorant.

We all experience the real world, no matter what the Equityists say.