> Those two countries have far worse inequality than most countries in Europe

There is inequality because they have more super rich people, whereas in Europe there is less inequality but everyone is poorer. This is why inequality is a pointless argument.

> There is inequality because they have more super rich people

Not quite, they also have more poor people to a scale that doesn't exist in many countries in Europe.

A consequence of having more poor people: strain on the healthcare and justice systems (relatively more acutely ill people, relatively more people committing crime) and bad educational outcomes (poor people tend to score lower).

A consequence of having more rich people: democratic processes are regularly under pressure due to the influence of rich people trying to make more favourable processes. Government institutions getting swayed by money from these rich people in exchange for preferable treatment.