From quick googling the odds of winning powerball is on the order of e-10, while unicorn startups of valuations above 1 billion have a success rate on the order of e-5.
Your comment is true, startup equity is more likely than a lotto ticket so it's not the best analogy.
Equity will be worth something or not based on a variety of factors, the more in tune you are with those things the better.
It's not 'I'm gonna be rich' vs. 'Lottery ticket' - there are ways to understand it.
That said, I'd put a high risk premium on equity.