This is naive. They will never let that happen. Those at the top regularly insider trade, manipulate the market, and perform all sorts of lobbying to make sure the game is in their favor. You are not playing with the same rules as they are.
For example, just look at the contribution limits for IRAs and Roth IRAs. They are disgustingly low, limiting people with salaries just barely big enough to afford a mortgage with an hour commute. Now, why is that? It's because it keeps the middle class in place while the upper class has several loopholes they exploit to put generational levels of money into these accounts. The story goes on and on.
This is a weird take, even if the game is rigged no amount of market manipulation can defeat just buying and holding.
Those are limits on tax advantaged accounts. You can put any amount of money you want into whatever market and have the growth taxed at capital gains rates. If you're talking about backdoor Roths you can (and should) take advantage of it, it's not a rich-person only thing.
If it isn't only a rich people thing, then how do people amass hundreds of millions and even billions in Roth IRA accounts? Those numbers far exceed, by many orders of magnitude, the contribution limits and assumptions of 10% growth over decades.
It moots your whole point. Indexes beat almost all hedging strategies in the long run beating all but a tiny sliver of active investors. The super wealthy that try lots of tricks almost always do worse than an index of the market.
An easy example is Roth IRAs. The contribution limits, including for conversions, are set quite low. The limits this year are $7,000, but that's including several jumps over the past few years. So according to this number, one could nominally contribute or convert (via a backdoor Roth conversion) $210,000 over 30 years, which would then of course likely grow at the market rate of approximately 10%. That would yield approximately $1,153,203 for a person able to max out a Roth IRA every year for 30 years, assuming this year's limit as a constant. Such a person is likely in the middle to upper middle class.
However, the super wealthy are able to amass tens, hundreds, and even thousands of millions of dollars in Roth IRAs, and furthermore, they use these accounts as investment vehicles into investments not available to non-super wealthy people. The only way that's possible, in accounts with strict and low limits, is through various loopholes in the system available to them because of their wealth.
For example, just look at the contribution limits for IRAs and Roth IRAs. They are disgustingly low, limiting people with salaries just barely big enough to afford a mortgage with an hour commute. Now, why is that? It's because it keeps the middle class in place while the upper class has several loopholes they exploit to put generational levels of money into these accounts. The story goes on and on.