What is the purpose of Bitcoin mining? Does Bitcoin mining serve any purpose other than rewarding the people with the best mining equipment?

It seems that free Bitcoins are given to whoever can mine the fastest.  Is that it, or is there any benefit brought about by mining?
The initial mining revenue was those who created the system and early adopters experimenting.

You have to remember at this time they were worth very little. many of those coins may have been deleted, sold or spent at a much lower value.

The risk to reward ratio was much larger, many thought they would not be worth anything. Your calling this money because millions of people have now given trust to the system. Back when it started currency from a game like World of Warcraft would have been considered more valuable.

The only reason people with "good computers" got coins is not because they had those computers, it is because less people were actively trying to accumulate bitcoin, making it easier for any computer to do so.