I am far more concerned about consumption inequality, and absolute poverty, than I am about wealth or income inequality. Defining goals in relative terms may be how we think, and feel, but it is a moving target. Even consumption inequality only bothers me because it is deeply problematic when people don't have the basics, and others have plenty to waste. Conspicuous consumption is a stupidity tax. A lot of things are expensive because they are rare, not because they are valuable. There is a difference. The harder problem is conspicuous hoarding. Having assets in abundance that are needed that could be shared, that are just kept in case. I don't have a problem with investment in productive assets. Mostly the 'owners' have given control over to managers who will be punished by clients if they don't do a good job. Until everyone has enough to participate, then I think we should feel uncomfortable. We should do something.
Don't confuse value and rarity