The California coastline is a beautiful place. More people want to live there than can physically live there. Whoever gets to live there, by whatever means, has something that many people want. That's wealth, and it cannot be equally distributed.
If you were to start the world from scratch, give everyone $1000, hierarchies would still immediately develop. People have different affinities, skills, people encounter different ideas at different times, happen to meet people or live in a certain place during a certain movement. As long as people are free to exchange their resources, they will not end up equally distributed.
And even if we're talking about a post-scarcity Star Trek situation with replicators and holodecks, you still would never eliminate a hierarchy of value. Maybe everyone can live in on the California coastline in their holodeck, but the actual California coastline is still scarce, and people will still prize it. Or maybe Captain Picard hand carves a chair. It can be replicated exactly, but there will be a certain value to having the actual chair that he carved.
We're already seeing this phenomenon in a world with highly efficient and advanced manufacturing. We pay a premium for things that are hand made, simply for the fact that the process that produced the thing is inherently limited.
We'll never escape scarcity, and this is just one of the things that will always maintain a hierarchy of value.