The bigger these pay gaps get, the more expensive for the average person those shares get. We are not all shareholders in any meaningful sense, and over time less and less of us will be. This works better than other things we've tried, but we've only tried about three things. There's plenty of ideas that we should look into.
You...you know you don't have to buy whole shares, right? VOO has a minimum investment of $1.00. While I won't argue that not a single person in the country is incapable of investing $1.00, the % of the population that couldn't stick a few bucks every now and again in a free account is probably single digit.