Wealth inequality is something that people that don’t understand how money works talk about. Whether or not someone else is richer than you has nothing to do with how rich you are. It’s not a measure that has any particular value.
Absolutely insane, ridiculous thing to believe. Obviously increasing wealth inequality matters a lot because it allows for those holding onto large amounts of wealth to outcompete greater and greater swathes of the population for resources. Which they are clearly doing as the average person's purchasing power goes down. Pretending like it doesn't matter is the most obvious propaganda from those benefiting from the status quo that one wonders how anyone could fall for it.
And reactionary politics absolutely follows from our financial system because that same wealth inequality and lowered purchasing power makes people, unsurprisingly, mad. And a lot of those mad people start looking for answers, many in reactionary places. I'll point to the MAGA movement in the US as a pretty obvious ongoing example.