but is more equality a good thing or a bad thing?
This is probably the main issue between leftists, the right and libertarians.
I doubt, that there will ever be a satisfying conclusion to this debate. It largely depends on one's individual moral view. There is no objective truth to it. I would argue, because there is no way to solve the issue, we should not even try it.
I think the answer is given by a full understanding of the human psyche.