I think it's more trying to say that Capitalism is the root of modern systemic evil. Capitalism grew from feudalism, and feudalism grew from what came before it, each class society grew the next, but today Capitalism is the form that is hegemonic, specifically Imperialism.

Also, I disagree about hierarchy being the issue, I'd say class is. Interclass hierarchy is usually oppressive, but intra-class hierarchy isn't necessarily a bad thing, and is often a necessary component of specialization, management, and administration in increasingly complex production. I'm a Marxist-Leninist though, so that guides my views.