Well sure, under feudalism we had far less inequality. There was a tiny noble class, and almost everybody else lived in squalor. There may be more equality there, but is that actually better?
Again, why should we ask whether or not there is more equality? Why not ask the question that I asked: Is there a better quality of life? Isn't that what we are after? Personally, I just care about having a good life. It isn't going to be devalued because there are people out there that have more than me. Even if I'm at the very bottom of the totem pole, should that hurt me if I have everything that I need?
Maybe that is the great flaw in humankind. They tend to create a self-image by comparison. Their happiness depends on how they stack up compared to the person next door.