I read it to be something like: the American economy is structurally set up in a way that disproportionately benefits households making more than $500,000. Empirically, given how real wages have trended over the past 50 years (flat, with decreasing job security, for everyone except the top), that's at least close to true. People seem to disagree much more why that is, though I do agree that a substantial number of people have implausible theories on that point.