Your point is valid, but the reason for the equity is not about compensation, but about alignment of interests. If things do go really well, then I need skin i

Your point is valid, but the reason for the equity is not about compensation, but about alignment of interests. If things do go really well, then I need skin in the game. But I also need to be treated like a part owner, not a disposable employee. The equity thing is about the mindset of the boss, more than compensation.