I started out with around 1% of a company that's now valued at a few 100 million dollars. I just don't see it going public and if we do get acquired I'm not sure I'll see much of it after the investors get paid.
Startup equity is like a shitty lottery ticket that you most likely won't be able to cash out even if you get lucky.
I passed up on google to be one of the first employees at a promising startup that ended up raising high 8 figures and is now at nearly 100 employees. I took a pay cut for that equity and worked 12 hour days alongside the founders. With liquidation preferences and dilution I won't even be able to take a vacation with that equity if there's ever an exit.
My college friends who picked Google are now making >$300K and have enough money in the bank to have a diversified portfolio and acquire the right type of equity.
So unless you're a founder or an investor ignore the equity. You can still go for a startup but do it for the experience and potential to have a real impact on an organization.