Small correction: At a fixed distance from a subject, Equivalence says that 200mm on the D500 and 300mm on the D810 both give the same diagonal angle of view (framing) and same perspective. Equivalence does not say the two settings are "the same" or that two photos resulting from those settings are "the same".
Well, actually, "Equivalent photos, as opposed to "equal" photos, are photos that have the same perspective, framing, DOF, shutter speed, brightness, and display dimensions (
http://www.josephjamesphotography.com/equivalence/), which is a good deal more than framing and perspective. Of course, lots of things are not on the list, and in some cases - aesthetic considerations, eg - that is obviously appropriate. The point is that output resolution is also not on the list, and the issue is whether that is justifiable.
One way such things can be justified is as a simplifying assumption - ignoring friction in physics, eg. Ignoring output resolution is not a simplifying assumption like assuming equal output size, or as standardising output resolution would be. Output resolution
must be
ignored if display dimensions
must be the same: it is impossible for a 36MP image and a 16MP image to have the same display dimensions
and the same display resolution without extensive re-working.
Even standardising output resolution as a simplifying assumption would still need justifying: some simplifying assumptions can be justified - ignoring friction in physics, eg, but some cannot - ignoring informational asymmetry and irrational behaviour in economics, eg. There has already been discussion about whether the simplifying assumption of the same output size can be justified; IMO it cannot, but opinions can vary. But we have not been given
any reason to justify ignoring the fact that output resolution can be varied independently of output size. That attribute of digital capture is one of its core characteristics, and one of the few ways in which it is genuinely an advance over film. (Not the least bewildering aspect of the equivalence debate is being accused of being wedded to film-era concepts, then listening to the same people who make that accusation talk about how the FX image has to be "enlarged" less than the DX image to reach 8 x 10).
We are back to circularity: if you do not ignore output resolution equivalence collapses, therefore output resolution must be ignored.