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I would advise fighting for equity to mean "distribution of resources to enable equal opportunity" rather than "capitalism with a diversity coating"

If you allow people to use the term incorrectly, you're allowing the term to grow/evolve into a meaning that harms the ability to accurately convey the concept you're trying to describe.

So with all that said, to respond to your question: Perhaps you've seen it used that way. That is not what equity means though.