The size of the pie depends on how you measure it (there's less dodos now, but more water mains, which are also nice), but sure, roughly correct.
That's kind of a separate problem, though, isn't it? The democracies of the world all have wealth inequality too. It's not as bad as in most autocracies, and I hope eventually we'll get classlessness, but we're not there yet.
(Autocracies with low wealth inequality were a thing for a while, too, but they haven't lasted, and weren't really supposed to be autocracies in the first place)
Its not really separate. As people fear they turn to the right, which births more autocracies and ironically makes the situation worse with their policies.
That being said, where I live, there's fear but it's not really about climate change. Yet, this is a global trend. I don't know, I guess I don't really have a better idea, but just fear seems a bit too simple.