That's not an entirely accurate perspective, but you're not far off. The problem is that fixing this requires hard decisions, and it requires people in power to act against their own interests.

You want wealth inequality to get better? You need to increase the value of labor. You do that by eliminating free trade deals, bringing production back to the west, increasing prices on goods, and severely limiting immigration. Do that, and the value of labor will soar.

You should also severely limit the ability for the wealthy to own properties to rent. One of the main reasons the middle class existed was that the family home was simultaneously shelter, and an investment vehicle.

The whole structure of investment and shareholding has to be rethought as well. Its built of the concept of infinite growth, something that isn't possible, and ends with businesses destroying themselves while trying to meet this impossible demand.