The difference is in the expectations. In in a minimum wage job, there's no equity. You're not expecting to cash out in stock if an acquisition goes well, and there's no opportunity for the people at the top to manipulate things so that they can cash out and leave you with junk stock.
If you get a minimum wage job, you know what the deal is. If you get equity, it's reasonable to expect that you won't get screwed over completely.
If you get a minimum wage job, you know what the deal is. If you get equity, it's reasonable to expect that you won't get screwed over completely.
Is it fair? That's a very different question.