Is bitcoin egalitarian or is there a hierarchy of owners of the cryptocurrency?
The exchange of Bitcoin is carried out under the laws of a free market (supply and demand). The  mechanics of the blockchain and Bitcoin do not intervine in the buy/sell of the cryptocurrency. The only aspect that the code of Bitcoin affects the cryptocurrency in the economic field is by its programmed scarcity which makes the currency a deflationary one, and therefore creates an upward pressure for the price (makes the price go higher).
Exchanges simply serve as a means through which people can buy or sell Bitcoins for other currencies (fiat or cryptos) and it is performed outside the blockchain. Only the transfer of the funds takes place in the blockchain.