Plus, this isn't just a mindset that people have in their heads, some chip on their shoulder from their upbringing holding them back: It's their actual reality.
Some people do have agency to act, and the assurance that their actions will produce value, and they are in fact not in catastrophic danger. And some people really do not have agency, they are pawns largely under the control of others, and live on a knife's edge where everything they have might be swept away by things entirely outside of their control. These realities shape whether it is even possible to take the risks that are necessary to reach success.
I agree, although in a way that mirrors my opening statement from OP: I think people who don't have this disadvantage tend to underestimate how real it is, and those who have it tend to overestimate how real it is.
Some people do have agency to act, and the assurance that their actions will produce value, and they are in fact not in catastrophic danger. And some people really do not have agency, they are pawns largely under the control of others, and live on a knife's edge where everything they have might be swept away by things entirely outside of their control. These realities shape whether it is even possible to take the risks that are necessary to reach success.