I am going to shout out bullshit. Psychobabble. Nonsense. Conjecture.

It even defeats its own logic on high self esteemed low self esteem in psychological causes. Read its analysis.

It is hypothesized that this inverse relationship is mediated through the human psychological inclination to define and protect their self- and in-group- identity or self-conception.[5] Specifically, for someone with high self-esteem, seeing another person fail may still bring them a small (but effectively negligible) surge of confidence because the observer's high self-esteem significantly lowers the threat they believe the visibly-failing human poses to their status or identity. Since this confident individual perceives that, regardless of circumstances, the successes and failures of the other person will have little impact on their own status or well-being, they have very little emotional investment in how the other person fares, be it positive or negative.

Conversely, for someone with low self-esteem, someone who is more successful poses a threat to their sense of self, and seeing this person fall can be a source of comfort because they perceive a relative improvement in their internal or in-group standing.

This bullshit word excuses wealth and blames poverty.

It is nonsense. How did wealth amass their fortune and don't they derive the same Schadenfreude? Pleasure off another's failures if it profits. Tell me why then don't we all have the same wealth. Because of the pleasure of another's failures. How come it is wealth that considers itself with esteem.

Completely fucking bullshit. Hey shrink shove it up your Schadenfreude.