It's a good argument for the inheritance tax--just about the only tax I'd support. The world is not a meritocracy, but letting some start off with a head start of hundreds of millions doesn't help by any objective measure. It prevents those with talent rising above those who are incompetence but happened to be born into the right family. Plus it seems like lots of those who inherit the money manage it poorly anyway and would better off with a modest but not extravagant start. Everybody wins.
And no, this doesn't mean your grandma's inheritance of $1000 per grandkid would be taxed. Have it start at some sensible limit like $1M or $500k. No reason to fall for the propaganda from the ultra rich to try to get you to defend their allowance of $20M.
I know a guy like this, super SUPER rich, has never worked a day in his life. If he could stay off drugs long enough his parents would happily gift him tens of millions. He's not a happy person. In fact I caught him stealing from me once, and it was honestly pathetic.