They may be equivalent in common parlance, but that’s a bit like saying it is ok to use ‘your’ instead of “you’re” just because it is so common.

We say “jealously guarded’ not ‘enviously guarded’ for a reason. Jealousy is about being protective of your own possessions and relationships; you feel jealousy if your spouse responds well to a coworker’s flirtations. Envy is when you find think of the coworker’s luck in having a good looking spouse